Leeds Tourism Trade Rebounds Strongly Following the Pandemic

August 31, 2022

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Article Summary

Leeds
  • The Leeds-based developer, Priestley Homes, has converted a historic local building into 166 high-quality flats.

  • 153 of the flats were finished last year, with the final 13 being currently added to the building and are due to be completed by the end of 2022.

  • This rejuvenation project is just the latest to transform a historic building in the Leeds region into spaces for the 21st century. Huge sums have been invested into property in Leeds to ensure the region’s heritage remains part of the way people live.

A Leeds-based developer has completed work to transform a historic building into much-needed new places to live. The redevelopment of the Grade-II listed building has brought more investment properties to the Leeds region’s market and is another example of the large investment that is rejuvenating the local area.

£18 million investment

The Leeds-based developer, Priestley Homes, has converted a historic local building into 166 high-quality flats. The Grade-II listed Conditioning House in Bradford was once a major part of the region’s textile industry and has now begun its new life as a much sought-after place to live and invest in property.

The project has taken two years since the residential scheme was bought by Priestly Homes’ main contractor, Priestly Construction, for £18 million.

Sought-after units

153 of the flats were finished last year, with the final 13 being currently added to the building and are due to be completed by the end of 2022.

The additional 13 units were all sold within two weeks of going on the market in May, showing how strong the property market is for investment properties in the Leeds region. It is likely that the next 13 will sell out just as quickly – if not quicker.

Thriving city

Nathan Priestley, founder and chief executive officer of the Priestley Group called the project “a labour of love” and spoke of how Conditioning House has become “one of the desirable places to live in West Yorkshire.”

He went on to say that, “We believe Conditioning House is the standard for which residential development should look like. The city is thriving, with growing inward investment boosting the local jobs market will only add to its appeal as a desirable place to live.”

Redevelopment and rejuvenation

This rejuvenation project is just the latest to transform a historic building in the Leeds region into spaces for the 21st century. Huge sums have been invested into property in Leeds to ensure the region’s heritage remains part of the way people live.

At Conditioning House, Priestly Homes has preserved and retained the original factory gates, internal doors and ornate stonework. Bespoke double-glazed, wooden windows also ensure the façade maintains its heritage.

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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Phoenix

From £362,450

   Gross Yield: 7%
   In Construction
   Est. Q3 2023
   Lease Length: 250 Years

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