First phase of £40m PRS scheme launches

Home letting firm Pickard Properties has launched the first phase of a luxury £40m private rented sector (PRS) scheme located on a six-acre site at the at the heart of the Far Headingley Conservation Area.

Spinning Acres, so called in a nod to the area’s textile heritage, previously formed part of Leeds University’s student accommodation known as Tetley Hall. The site has been owned by Pickard Properties since 2007.

The first phase contains three types of accommodation: new build four bedroom terraced family homes, built over three storeys; Boll House, which was originally a stable block and is now a two-bedroom detached house and The Yarn, the largest property in this phase – a new build, five-bed detached house.

Designed by Halliday Clark, the Ilkley-based architectural practice, the first phase has been built by Dobson Construction, also of Ilkley, with Fox Lloyd Jones of Leeds acting as project manager and quantity surveyor.

Further phases are due to be announced soon.  Phase two, already under construction, is an apartment building with 31 homes which will be completed by spring 2019.  Phase three will be the conversion of existing stone-built villas to create private apartments.

The final stages of the development will see further conversions to existing buildings as well as more new build accommodation to complete this unique community of homes for those who prefer to rent rather than commit to the cost of a mortgage.

Miles Pickard, director, said: ““This area of Leeds was a fashionable address over 200 years ago, and a prime location for wealthy mill owners who spearheaded the industrial revolution in this part of Yorkshire and built themselves impressive villas set within landscaped grounds.   The location of Spinning Acres is all part of that earlier building boom and the reason why it is a place of such special character and historic interest.

“Apart from its unique setting and fine build quality, its proximity to the city means that you can start and end each day with an outlook onto mature trees, yet still reach the city centre within 20 minutes.  We see Spinning Acres evolving into a thriving new community for Far Headingley.

“We are excited by the completion of phase one and its launch into the rental sector because of its appeal to a wide cross section of private renters.  Not only are we turning the rental market on its head by making renting a long-term option with homes that match our occupiers’ aspirations and lifestyles, but in this regard, I believe we are creating the most desirable rental destination in the Leeds area.”