“Landmark moment” as London developers acquire East Leeds site

A LONDON property developer has acquired Flax Place in east Leeds after a surge of interest in the area.

Leeds property consultancy Titchmarsh & Co brokered the sale of the 56,628 sq ft site to developers Neighbour Ltd.

It has planning for 200 homes, which it has earmarked to become the first Private Rented Sector scheme in the east of the city.

The firm said the sale marks a “landmark moment” as the site will link the residential east with the centre of the city.

It’s proximity to Kirkgate, the Calls, Leeds Dock and the upcoming Victoria Gate development, due for completion in late 2016 made it an attractive proposition.

PRS schemes have largely been London-based, with other sites in Manchester and Liverpool.

Matthew Bagley, director at Titchmarsh & Co, says: “Following a significant amount of interest in this opportunity, we are delighted to have secured this important sale.

“This is not only a further testament to the renaissance of Leeds’ east end but also a sign of the city’s growing appeal to London-based investors, who are recognising the appeal and qualities of Leeds as an investment location.”

“On the back of other recent city centre transactions, the sale of Flax Place is yet another signal that Leeds is more than earning its burgeoning reputation as a key market of the northern powerhouse.”