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Clarion buys Leeds Kirsktall Road Site for £200m Development Project

October 5, 2020

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Article Summary

Manchester
  • The £200million project will transform 13 acres of brownfield land into a residential-led mixed-use scheme which will likely include investment properties in Leeds.

  • The site is situated in the Leeds Knowledge Quarter; a hotspot for investment properties in Leeds as it is close to the city’s universities as well as some of the region’s top employers – including ITV, HMRC and Sky.

  • The new scheme is expected to include new investment properties in Leeds, as well as up to 35% in affordable homes.

The subsidiary of Clarion Housing Group, Latimer, has acquired a new residential development site on Kirkstall Road in Leeds as investment property.

The £200million project will transform 13 acres of brownfield land – formerly known as City Reach – into a residential-led mixed-use scheme which will likely include investment properties in Leeds.

 

Fantastic Leeds location for an  investment property

The site itself is situated in the Leeds Knowledge Quarter; between the River Aire and Kirkstall Road in Leeds city centre.

This area is a hotspot for investment properties in Leeds as it is close to the city’s universities as well as some of the region’s top employers – including ITV, HMRC and Sky.

Development group director of Latimer, Richard Cook said. “Our vision is to give a new lease of life to the site. Kick-starting a residential-led mixed-use regeneration along the River Aire and Kirkstall Road; which has been a vision for the City of Leeds for more than ten years.”

 

Built for changing lifestyles and community

The residential units built on the site will be designed to reflect the nationwide shift towards home working. They will come with good quality private outside space.

There will also be public outdoor spaces which will help create a community atmosphere in the neighbourhood. Also benefiting the local community will be the retail units, leisure facilities and space for creative industries. 

Additionally, included in the plan for the site is a cultural centre and facilities for local artists. The regeneration project will also improve access to the waterfront and across the River Aire.

The new scheme is expected to include new investment properties in Leeds, as well as up to 35% in affordable homes.

 

Residential opportunities

As well as creating opportunities for investment property in Leeds, the project will also make available a range of ownership options for residents.

Richard Cook stated. “We want to deliver a high quality, mixed and sustainable community which sets a new benchmark for the provision of affordable homes in Leeds. With private outside space for residents alongside public open spaces, employment opportunities and car-free access into the city centre.

“In addition to homes for private sale, this development will deliver much-needed affordable rent and shared ownership homes. Enabling more people to benefit from all that the city has to offer.

“We welcome the opportunity to engage with both the City of Leeds and the wider community to bring forward this scheme of significant importance.”

 

What is property investment?

Put simply, property investment is property purchased with the intention of generating financial returns for its buyer. These returns could be in the form of rental income through buy-to-let properties, house price growth through the future sale of the property or both. Property investments can be owned by individuals or organisations and can be short, long or medium term.

 

Get in touch

If you’re interested in buying an investment property in Leeds or investing in property anywhere else in the Leeds region and beyond, contact the experts at North Property Group to find out how.

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