The Parklane Group is to begin a search for a forward-funding partner for a £160m co-living, co-working, PRS and leisure “lifestyle” complex in Leeds.
The Leeds-based property and leisure company is shortly to appoint a property adviser to seek funding and occupier interest for the project. Branded INC, the scheme will be showcased at MIPIM as one of the city region’s investment opportunities.
The proposed development on Wellington Street, close to the Leeds inner ring road, includes a 198-bedroom aparthotel, 163 PRS flats, 200 co-living flats, more than 40,000 sq ft of co-working space, a bar and restaurant, swimming pool, gym and shops. Designed by architect BDP, the 33-storey complex covers 485,000 sq ft.
Parklane Group acquired the combined Bridge House and Compton House site in 2015. It has since bought the adjacent Ebor site to consolidate its holdings in the strategic location.
The Bridge House and Compton House sites have previously had a planning consent for a mixed-use scheme including 10-storey and 28-storey towers with 272 flats, 25,000 sq ft of office space and a 1,900 sq ft shop.
Parklane said it was in active dialogue with Leeds City Council and is ready to submit pre-planning for the new scheme. The group owns and operates a land and property portfolio, which includes city centre hospitality and leisure brands such as Roomzzz Aparthotel and IconInc student living, LivInc, WorkInc and Uown, an innovative property crowd funding platform.
The group’s investments are in key UK cities including Leeds, Manchester and London.
Parklane director Naveen Ahmed said: “INC in Leeds has been designed to be a city-defining development, providing a step change in the PRS, co-working, hospitality and retail offer across the North.”
Ahmed added: “Our vision is formed around not only developing world-class facilities, but creating a lifestyle that fits the aspirations of the innovative and dynamic businesses and people in our city.”
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