Developer Glenbrook has bought a £150m build-to-rent scheme in Leeds.
The site at 87-89 Kirkstall Road has consent for 631 flats and 10,000 sq ft of commercial space.
Glenbrook bought the 5.12-acre site from Marshall CDP for an undisclosed sum. The developer hopes to file a reserved matters planning application in the coming months to include parks, public realm and amenity space.
Daniel Roberts, senior development manager at Glenbrook, said: “This site is strategically very important, and its redevelopment will help create an attractive walkway along the River Aire giving access to and from the city centre.”
The acquisition brings Manchester-based Glenbrook’s BTR pipeline to some 2,500 flats scheduled to come forward this year, having already completed 1,500.
The deal reflects growing developer demand for regional BTR. According to the British Property Federation and Savills, last year there were twice as many regional BTR homes added to the market compared with London, with Leeds securing 10,562 BTR homes.
CBRE advised Marshalls and Carrick Real Estate represented Glenbrook.
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