New owners for city’s ‘Gateway’

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A “Gateway” site in Leeds which has been disused for years could soon become a place to live and work following a multi-million pound property deal.

Bilfinger GVA yesterday revealed that it has successfully completed the sale of a large development in the city centre.

The combined Bridge House and Compton House site has been acquired on behalf of administrators by Park Lane Properties.

The site already has planning permission for a mixed-use scheme, including 10 storey and 28 storey towers with 272 apartments, 25,000 sq ft of office space and a 1,900 sq ft retail unit.

Bridge House and the adjoining Compton House form a 0.42 acre site on the junction of Leeds’ inner ring road and Wellington Street, a main route into Leeds city centre, which has also become the central “spine” of Leeds’s emerging West End district.

Joel Crossfield, the associate in Bilfinger GVA’s Leeds valuation team, said yesterday: “The Bridge House and Compton House site is a major development opportunity in Leeds city centre, and offers great potential to the new owner.

“As the market place for quality prime development sites has become relatively buoyant in recent months, this site received interest from numerous parties, particularly thanks to its prime location in Leeds’ emerging West End.”

Park Lane Properties is drawing up detailed plans for the site.

Andrew Foster, a senior director at Bilfinger GVA, said GVA had first become involved with the site in 2009, when it was already derelict.

He said the current planning permission for development there was secured in 2005, and this permission was extended in 2011.

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