Posted on Oct 06, 2017 by Natalie Phillips
As further confirmation of the ongoing and strong demand for future residential development product in Leeds, FLJ have recently completed the sale of a second prime development plot on Kirkstall Road, on the western city centre fringe. Last year, the rear plot of 0.52 Acres was sold with planning for 239 student beds and the scheme has recently been completed by Ashcourt.
Having secured reserved matters planning consent for an additional 107 private residential units on the front plot adjacent to Napoleon’s, a sale has now been completed to KMRE Group, an active local developer who have bought the site unconditionally.
Acting on behalf of ATC Properties, the sale of the front plot comprising c.0.5 acres completes a successful break up of the companies long term land holdings in this improving residential/student enclave.
Paul Fox acting for land owner ATC said:-
“The successful sale of these 2 prime plots to separate developers helps underline the strength of demand in the market for ‘deliverable schemes’ with implementable consents. While there is a lot of long term/pipeline stock planned, the benefit of having a viable planning consent is paramount and we experienced unprecedented enquiry levels and achieved strong prices.
It took some time to sort out those parties who were able to deliver unconditionally, as seeing both plots built out and completed was a key driver in the disposal decision.
KMRE performed admirably in a short timeline and we all look forward to seeing the hoardings going up and a start on site imminently. Rob Whatmuff at Colliers acted on behalf of KMRE.
Following on from our Grainger Transaction at the Former Yorkshire Post site, fringe of city centre remains an ‘in demand’ location for well designed apartments and occupier demand remains strong.”
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