leeds-uk-property

Leeds, UK

From £122,500

Actual Yield

Assured

6%

2 Years

The vision is to create a high quality and visually striking building on this small but significant site within Holbeck Urban Village. The site sits at the end of both David Street and Siddall Street, and therefore will provide a focal point for people moving within the area. This creates a need and opportunity to be bold in terms of architectural form and language, helping to enhance the emerging character of Manor Road.

The development has been designed for the Build to Rent market, and provides 101 apartments (mix of 4 3-bed apartments, 20-bed, 49 1-bed and 28 1-bed suites), together with resident amenities at Ground Floor. The proposed mix of unit types will cater for the younger professionals that live and work in the area.

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The site is extremely well located within the city centre; a 5 minute walk to the train station’s new southern entrance, and to the city beyond. Holbeck Urban Village also provides additional amenities for residents with the growing number of cafes, bars, deli’s, and restaurants. It is also ideally suited to benefit from the significant investment and employment associated with Burberry’s arrival in Holbeck Urban Village. This highly sustainable context has led to Citylife proposing a car-free development for the site, and this approach also allows a large proportion of the site at ground level to be given over to form a generous (and direct) pedestrian link between Siddall Street and Manor Road.

Architecturally, the form and materials reflect the site’s incredible industrial heritage. For decades the site was home to a highly specialised steel fabrication company that is one of only two companies in the whole world that provide a particular lining to the Oil Refinery process. The folded metal facade of the building pays homage to the historic fabrication process, and provides a strong contrast to the Manor Mills development next door. A bronze colour has been chosen for the cladding, to help the building sit comfortably within the current and future context where the pre-dominant material will be red brick.

WHY PRS?

The private rented sector has seen considerable growth over the past few years and is now accountable for 16.5% of all UK households. Rising house prices and rising rental prices are making PRS schemes increasingly popular with investors.

A lack of affordable homes to buy has created a housing crisis in the UK, as a result the private rented sector has grown and will continue to grow. It is predicted that within 15-20 years more people will rent there homes than own them.

WHO?

Private rented sectors schemes appeal to a wide demographic from students to people looking to downsize, however the largest market are people looking to move into their first home and in the UK they are typically aged between 25-35. This key demographic are young urban professionals, who are looking for home which is comfortable yet affordable. With 40,000 graduates each year, this type of development is perfect for the growing demographic demand.

WHY LEEDS?

The key target demographic makes Leeds the ideal place for PRS schemes. The city has a low cost of living compared to other core cities in the UK making it attractive to first time home owners. In addition to this Leeds has a thriving and growing economy meaning jobs for the young professionals are in plentiful supply.

What to do next?

To find out more about this exciting opportunity in one of the UK’s fastest growing cities, please simply register at the thumbnail below or on the side of this page.