Huge boost for Leeds city centre living predicted for 2023

By The Newsroom
Published 19th Mar 2016, 09:04 BST
Updated 19th Mar 2016, 09:06 BST
Build to rent The first homes att the build to rent development by Moda at Quarry Hill, Leeds, should be ready by 2019Build to rent The first homes att the build to rent development by Moda at Quarry Hill, Leeds, should be ready by 2019
Build to rent The first homes att the build to rent development by Moda at Quarry Hill, Leeds, should be ready by 2019
The number of flats in Leeds city centre could be set to nearly double in the next seven years, as the city prepares to welcome an influx of new residents.

A leading property expert says he anticipates that the current 11,000 flats could grow to 20,000 by 2023 thanks to a series of new high-end rental blocks that offer everything from gyms and cinemas to pools and roof-top sports courts.

Graham Bates, CEO of LIV, which offers advice and management for build-to-rent schemes, says he is working with institutional investors on projects that will deliver thousands of flats as developers once again turn their attention to Leeds and their plush, amenity-rich apartment schemes.

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He is advising a number of clients on build-to-rent, also known as private rented sector (PRS) ventures, in Leeds. They include American fund AIG, which is investing in the Clarendon Quarter to create 330 flats on the edge of the city centre. Meanwhile, London-based neighbour.co.uk has acquired Flax Place, which has planning permission for 200 flats.

A view of the Leeds Liverpool canal from a balcony of a two bed apartment in Candle House at Granary Wharf in Leeds.A view of the Leeds Liverpool canal from a balcony of a two bed apartment in Candle House at Granary Wharf in Leeds.
A view of the Leeds Liverpool canal from a balcony of a two bed apartment in Candle House at Granary Wharf in Leeds.

One of the first schemes out of the ground in Leeds will be at Quarry Hill, where Moda Living plans to build 705 apartments in two phases. It should be on site in early 2017 with the first homes ready to rent by 2019.

Moda is now a key player in the PRS sector. A company borne out of respected Yorkshire construction firm Caddick, it is backed by Apache Capital Partners and has 5,000 flats in the pipeline across the UK, including its flagship Angel Gardens development in Manchester.