Why Turkish investors are spending millions of pounds in Leeds city centre

Burak Baytu, the British Turkish owner of Baytu Realty, said Leeds is the first destination it directs its investment clients at the moment.

The company was founded in London in 2017 with the intent to sell properties to Turkish investors who cannot afford to buy million pound properties in London.

Its clients are typically doctors, private business owners, real estate agents and solicitors from all over Turkey, including Istanbul, Ankara, Bodrum, Izmir, Antep, Diyarbakir and Corum, investing about £200,000 each.

Mr Baytu, who has been working with an unnamed residential developer in Leeds city centre, said: “We locate developments that offer a good math and promote them in the Turkish market.

“The market has responded quite enthusiastically and we have sold nearly 30 units in Leeds within the last 12 months. That is above £6m brought into the UK economy.”

He added: "These investors don't just buy the development but they buy into the whole package that the city has to offer.”Mr Baytu said his company’s focus is areas that have a strong local economy with well built developments that offer good rental yields.

“There’s a lot going on in Leeds, especially now with the production industry making a base there. There are also the finance, insurance, legal sectors and the digital economy too. Leeds is underrated. Everybody knows Liverpool and Manchester in Turkey but nobody knew Leeds,” he said.

He added: “Whilst others are trying to sell multi-million pound properties in London to the limited number of people that can afford them, we focus on growing a whole new market, in the processing carving a nice niche to ourselves as a company."