Addington Capital secures permission for Leeds PRS scheme (GB)

Addington Capital secures permission for Leeds PRS scheme (GB)

Addington Capital has received planning approval on a residential development on Melbourne Street in Leeds City Centre. The application comprises of 100 apartments of varying sizes split into three blocks. Designed by Den Architecture, the project will target the PRS market. It is expected that the works will commence in the nearest future. This area of Leeds has seen significant regeneration in recent years and is now known as the Northern Quarter in recognition of its increased popularity and vibrancy.

 

Phil Symonds, Partner at Addington said: “This scheme will be Addington’s third PRS scheme in Leeds. We acquired, refurbished and sold 183 units in a joint venture at Waterside and are currently on site at Headingley, where we have developed 124 units to date and are now about to develop another 27. Leeds has an estimated population of 780,000 which makes it the 2nd largest city and the second-largest metropolitan district in the UK. It has a vibrant student and young professional market, who we believe will find our scheme attractive.”

 

Addington also has a large PRS Scheme in Sheffield, Velocity Village which consists of 371 apartments. Last year it set up ADDLiving, a new management and leasing platform which manages the Sheffield and Leeds sites.

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