McLaren Living has submitted plans for an £85m, 375-home build-to-rent scheme in Leeds.
The proposals for the Water Lane development in the city’s mixed-use South Bank regeneration area would see a former car park turned into a new neighbourhood with fresh public realm and landscaping.
Designed by Carey Jones Chapman Tolcher, the development will feature residents’ lounges, shared workspaces, a gym and events areas, with roof gardens on the first, ninth and 14th floors.
McLaren Living has tasked Allsop with finding an investment partner for the project. Development is expected to start this summer.
Matthew Biddle, managing director at McLaren Living, described Leeds as a “well-connected city” with a “growing reputation as an attractive headquarters location” – McLaren itself has opened an office there as a hub for the north of England.
As well as Water Lane, the company is working on a BTR and commercial scheme in the city at Wellington Street.
A burst of BTR activity in Leeds is adding to a regional market in which growth is outpacing that of London. Leeds is one of the leading cities for investment outside London, alongside Manchester and Birmingham.
A trio of proposals from Platform_, Hub and Glenbrook, which could see a further 1,780 homes approved, are set to be presented at Leeds City Council’s planning committee today (27 January).
- See next week’s EG for an interview with McLaren Group founder Kevin Taylor
To send feedback, e-mail tim.burke@eg.co.uk or tweet @_tim_burke or @EGPropertyNews
