PLANS to create a massive city centre apartment development on the former site of the old Yorkshire Post building have been confirmed.
The Yorkshire Post can reveal that contracts have now been exchanged for the delivery of the first phase for the development on the former gateway site on Wellington Street in Leeds City Centre.
The landowner , Stirling Investments, aims to deliver a large 18 storey residential building offering 242 apartments aimed at the private rented residential sector (‘PRS’), along with some ancillary commercial spaces at ground floor
Grainger Plc has committed to purchase the block subject to receipt of detailed planning consent for the building which has been designed on a bespoke basis.
Grainger is the UK’s largest listed residential landlord and a build to rent specialist, and this scheme will be its first purpose-built, PRS development in Leeds.
Demolitions crews cleared the 4.6 acre site in 2014 and only the landmark clock tower remains of the old newspaper office building, which was home to both The Yorkshire Post and the Yorkshire Evening Post for more than 40 years.
Previously, in February 2015, outline planning permission was granted for a mixed used scheme, made up of three office buildings and one residential or hotel building.
The new building will occupy a prime south-facing riverside plot on the 5-acre site, which also has outline planning consent for a further three blocks earmarked for headquarters office buildings.
Once completed the site will also feature extensive public realm and commercial retail/leisure spaces.
Following detailed pre application dialogue over recent months a reserved matters planning application is to be submitted in October with delivery of the scheme expected to be complete in mid-2019.
“With such a high calibre operator on board we are very positive over the detailed planning dialogue ahead and excited to be kick starting a high quality regeneration of an iconic Leeds site.”Paul Fox
The building was opened in 1970 by Prince Charles.
The Johnston Press titles vacated the old building in 2012 and are now based at No 1 Leeds on Whitehall Road, just five minutes walk away.
Paul Fox of Fox Lloyd Jones acting as Development Managers on the scheme confirmed his delight at being able to bring Grainger into Leeds for its first major PRS scheme in the city.
“There has been much talk about the drive for build to rent schemes in Leeds and other key provincial cities to respond to changing market dynamics and it is exciting that this will be one of the first real schemes to come out of the ground in Leeds.
“With such a high calibre operator on board we are very positive over the detailed planning dialogue ahead and excited to be kick starting a high quality regeneration of an iconic Leeds site.”
Helen Gordon, chief executive of Grainger, said: “We are pleased to announce this sizeable PRS build-to-rent acquisition that will deliver 242 new, purpose-built rental homes in Leeds city centre. Leeds is a vibrant city which holds all the key characteristics of our PRS investment strategy, including a large professional workforce and significant economic growth potential.”
Walker Morris solicitors acted for the landowner and Pinsent Masons represented Grainger.