Harrison snaps up city centre development site
YORKSHIRE developer S Harrison has acquired a 2.4 acre site on East Street in Leeds, its third major acquisition this year, as its managing director hailed a “very healthy” development pipeline.
S Harrison is exploring the potential for residential development on the site and is already in discussions with a number of potential funders in the private rental sector.
The site, originally owned by Leeds City Council, was sold to another developer before being bought by Brabco (2006). Harrison acquired the site for an undisclosed sum from administrators PwC acting for Brabco.
Agents JLL in Leeds and solicitors Addleshaw Goddard acted for the vendors in the deal. Harrison was advised by Leeds lawyers Shulmans and is working on new plans for the site with architects Careyjones Chapmantolcher (CJCT), which had previously secured planning approval for residential development on the site.
Commenting on the deal S Harrison MD Ann Scott says: “This is a high profile site with an excellent frontage onto East Street and within walking distance of the city centre making it ideal for residential development. Having recently acquired sites in York and Edinburgh we were specifically looking for prominent sites with development potential in the region’s business capital and this one provides the perfect opportunity.
“We buy prudently and have an excellent delivery track record. Whilst we are looking at a number of additional sites across the UK, we are particularly keen to extend our portfolio in Leeds and are actively seeking other opportunities here.”
York-based S Harrison posted profits of £3.46m in 2013 on turnover of £28.64m and has significant cash reserves. In the last two years it won various awards for its acclaimed £32m redevelopment of Grade II listed West Offices, now the headquarters for City of York Council and used by English Heritage as a model for sustainable development.
Earlier this year S Harrison acquired its first site in Scotland, in Edinburgh’s New Town, where it is seeking planning approval to build high quality student accommodation. Last month S Harrison completed the deal to buy Hunter House in the heart of York which it plans to convert to private residential accommodation.
