Sale of half-acre plot paves the way for 107 homes

A new landmark scheme of 107 private residential units are to be built on Kirkstall Road in Leeds following the purchase of a half-acre site, formerly occupied by Unifloors, which is adjacent to Napoleon’s casino.

Property agent, Fox Lloyd Jones has sold the site, which has reserved matters planning consent, to Leeds-based developer KMRE Group on behalf of ATC Properties.

Last year the rear of the plot, which is a similar size, was sold with planning for 239 student beds and the scheme has recently been completed by Hull-based student developers, Ashcourt Group. An attractive landscaped square serves both plots.

The unconditional sale of the front plot completes the successful break up of ATC Properties’ long term land holdings in this improving residential/student enclave on the T.

Director of Fox Lloyd Jones, Paul Fox, who acted for land owner ATC said: “The successful sale of these two 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.

“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.”

Rob Whatmuff at Colliers acted on behalf of KMRE.