Addington, the property investment and asset management specialist has received planning approval for a town house scheme of 16 houses on Melbourne Street and Lower Brunswick Street near Leeds City Centre.
The application comprised of twelve 2-bed, 2-bath townhouses (Melbourne) and four 3-bed, 2-bath townhouses (Brunswick), with parking and garden, all of which are freehold and will be available to buy. The site was previously an industrial building.
The plan is to get on site and build as soon as possible. Addington anticipates show home delivery in Q1 2020 and the scheme to be fully complete by end of June 2020.
The houses are expected to be attractive to Leeds young professionals or young families who want to live near Leeds City centre, which is only one mile away. Good shopping is less than half a mile away.
The houses are being launched with Help to Buy funding approved and three units have been reserved already. The houses range from £280 to £290,000 for the two bed Melbourne Houses and £350 to £360,000 for the 3-bed Brunswick houses
This area of Leeds has seen significant regeneration in recent years and is now known as the Northern Quarter in recognition of its increased popularity and vibrancy. The wider area has also seen a number of new shops, bars and restaurants.
Addington had originally secured planning permission to build a scheme for one hundred apartments, but following market research, decided to build freehold housing for sale instead. The company has other residential developments in the city, including at Headingley Park, where it has a 152-unit PRS scheme.
Roshan Ramlugun, Partner at Addington Capital said, “We are delighted to have gained planning permission for this scheme which we believe will help meet an ever-increasing demand in Leeds city centre, for both occupational and investment properties. Leeds has a vibrant young professional market looking for quality space as they move up the ladder. We believe they will find our scheme attractive.”
Leeds is the UK’s fastest growing city. The city centre is the main driver of a city region with a £64.6 billion economy and has a population of 758,000- with 27% of the population aged between 20 and 34. Over the next ten years, the economy is forecast to grow by 21% with financial and business services set to generate over half that growth over the decade.
