Strong demand for block converted from offices into apartments
Managed by ADDLiving, the specialist residential management and leasing company, this is the fourth block Addington Capital, has redeveloped on the Leeds Headingley Park site, which it first acquired in a joint venture in August 2014.
Stockdale House is now the only remaining office building on the estate. Park House, the fourth building takes the number of residential units ADDLiving manages at Headingley Park to 152.
Headingley Park is a parkland location of about 5.5 acres which has been redeveloped to attract strong interest from Leeds’ growing young professional market.
Erdal Kacar, Head of Operations at ADDLiving said: “Leeds has an estimated population of around 780,000 which makes it one of the top four largest cities in the UK. It has a vibrant student and young professional population, but a shortage of suitable quality property to rent. We have been overwhelmed at the take up in the first two weeks of launch.”
He said this tallies with the findings of a report produced by international law firm CMS, “Urban Being – The Future of City Living”, which surveyed 6,500 people living and working in either London, Manchester, Glasgow, Berlin, Amsterdam and Paris to uncover the preferences of consumers when it comes to their living environment.
He pointed out the report revealed that 56% of respondents agreed owning a property is becoming less important, 69% believed their government should encourage more homes to be available for rent and that super-fast internet is the most important requirement in accommodation.
Kacar added: “As people, the younger generation in particular, are placing more value on experiences rather than things, the rental sector will continue to boom. Customer service will become even more important. I am delighted we have met such demand at our Headingley site. And yes- we allow pets too!”
Headingley is one of three Yorkshire Private Rental Schemes (PRS) redeveloped/refurbished by Addington Capital and managed by ADDLiving.
Addington acquired, refurbished and sold 183 units in a joint venture at Waterside, Leeds and also has a large PRS scheme in Sheffield – Velocity Village of 371 apartments, which ADDLiving manages.
