Restaurant site snapped up by developer seeking to build 400-bed accommodation complex
A property group is to purchase the one-acre site currently occupied by a restaurant business to build a housing complex with 400 bedrooms.
Gregory Property Group has exchanged contracts to purchase the site on Bingley Street in Leeds for student residential development.
The site is currently occupied by Maxi’s Chinese restaurant, which plans to relocate within the area. In the meantime, it will focus on Maxi’s York, in Nether Poppleton, another 300-seater restaurant.
WYG, on behalf of Gregory Property Group, has submitted a full planning application to demolish the existing restaurant and deliver a multi-storey purpose-built complex to house around 400 bedrooms.
The developer is expanding its residential portfolio with a number of bespoke housing developments in Yorkshire and is actively seeking other prime site opportunities.
Barry Gregory of Gregory Property Group said: “We are pleased to have secured this site through competitive tender which recognises the credentials of our long-established business to deliver sustainable development.
“The appetite for high quality student accommodation continues to grow apace with Leeds being one of the top ten university destinations in the UK. With a growing student population of around 60,000 students in the city there remains sustainable demand.
“More than half the student population is made up of University of Leeds which has a growing number of international students who have a propensity to stay in purpose built student accommodation (PBSA). This particular site sits within an established PBSA location, where accommodation is most needed. ”
Gregory Property Group is aiming to start on site in February 2019, subject to planning consent.
Michael Leonard of Carisbrooke Estates acted on behalf of Gregory Property Group in the acquisition of the site.