A North Leeds lettings agent is calling for more speculative development in the Headingley area after seeing demand soar for high quality rental property and successfully letting apartments in three prominent buildings since the start of the year.
Managing director of Morgans, Jonathan Morgan says: “Demand for high quality rental property in North Leeds is very strong as the recent successes at Grosvenor Lodge, The Hollies and Burton Crescent demonstrates. All three apartment developments are in excellent locations, which when combined with the superior interior specification, has meant that tenants have been very keen to secure them.”
All seven of the two and three bedroom apartments at Grosvenor Lodge, which is located on Grosvenor Road, let within two weeks and just one apartment remains out of the five at The Hollies which is located within a picturesque park in Weetwood. The first three available apartments at Burton Crescent, which is a former student development that is being renovated to create a number of private rental properties, have also let within a matter of weeks.
Debbie Denby, Head of the North Leeds Morgans team says: “Tenants are looking for properties that are spacious, well-designed and come with all the mod-cons - location is also key - most want homes that are on the doorstep of all of Headingley’s amenities.
“The apartments at Grosvenor Lodge have mainly been let to doctors, university professors and pharmacists who were all looking for a conveniently located property close to the university and hospitals. The apartments at The Hollies have all been rented by professionals and two of the newly renovated apartments at Burton Crescent also let to professionals on the first viewing.”
The one, two and three bedroom apartments at all three schemes let for between £695 and £1,100 per month. Debbie adds: “There is a real lack of good quality one and two bedroom properties in North Leeds for professional tenants who want real quality and a great location. Features like bespoke kitchens, bathrooms and wet rooms, underfloor heating, off-street parking and flat screen televisions have helped to make these homes very popular and we would encourage landlords to consider redeveloping any student properties they may currently own into homes that appeal to the professional market. This is already a fast growing trend in Headingley and in many cases landlords will benefit from improved yields and the added advantage of being able to let the properties all year round.”
All three developments have the Headingley Stadium, train station and medical centre on their doorstep as well as benefitting from a host of cafes, restaurants, bars and shops. Jonathan adds: “Having operated in North Leeds for 17 years we can confidently say that the area is experiencing more demand than ever before from graduates, teachers, lecturers and young doctors.”