Grade II-listed mills first phase sold out after £50m revamp
A major investment in formerly derelict Leeds mills has proven a success, with the first phase of the £50m scheme sold out.
According to JM Construction, which oversaw the redevelopment of the former flax spinning mills, 85 apartments at Victoria Riverside have now been snapped up.
The apartments on Goodman Street in Hunslet were reportedly acquired by both investors and owner occupiers.
The major refurbishment of the former Grade II and Grade II*-listed mills cost £50m, and saved the sites from demolition after more than 40 years of disuse.
The mills were built in 1842 by William Fairbairn for John Wilkinson, who employed 1,500 female workers as flax spinners. They have stood empty since the 1970s when tool manufacturer RH Bruce moved out, and were earmarked for demolition before JM Construction stepped in.
The second phase of the development will begin in the coming weeks, consisting of 74 one and two bedroom apartments, starting from £120,000.
When completed, the scheme will contain 350 units, including rooftop penthouses. The whole project is expected to take four years to complete.
John Mulleady, managing director of JM Construction, said: “The strong sales performance reflects the quality of the build, the impressive specification and the convenience of the location, both in terms of its proximity to the city centre and accessibility to the major road networks.
“This is an exciting restoration project which will provide much needed new housing as well as making a significant contribution to the wider regeneration of the Hunslet Riverside area.”
JM Construction’s previous schemes include the conversion of the former Tate Cars headquarters on New York Road in Leeds into 74 apartments.