Fox Lloyd Jones, acting as development manager for YP Real Estate, has awarded the build contract for the first phase of the long-awaited development of the former Yorkshire Post site in Leeds to ISG.
The global construction services company has been awarded the multi-million pound contract to deliver the first of four phases, comprising 242 apartments, on the 4.6 acre site.
The site was cleared in 2014 and work is set to commence in early October 2018 on a new build 18-storey block overlooking the River Aire. Due for completion in early 2021, the tiered profile of the attractive brick clad building will incorporate an impressive eleventh floor residents lounge overlooking the river.
The whole block has been forward sold to Grainger PLC, the UK’s largest residential landlord, and a market leader in the PRS/Build to rent sector. Grainger will own and manage the development, which as well as 242 apartments, will also offer a range of impressive services and amenities; from resident’s lounge and gym, to onsite concierge, and complimentary superfast broadband.
“We are pleased to progress to the construction phase of this exciting development, our first in Leeds, and one of the city’s first Build to Rent developments. Upon completion, this project will provide quality rental homes in this iconic city centre location,” said Helen Gordon, CEO, Grainger plc.
Paul Fox of Fox Lloyd Jones, acting as agent as well as development manager, added,“Awarding this first phase build contract is a pivotal moment for this much awaited scheme. After lengthy dialogue, and a real committed effort from the professional team, we are pleased to have reached agreement with ISG and site preparation is now underway.
“As it is a prominent gateway site to the city it is essential that we deliver a really high-quality scheme to complement and enhance the rest of the West End development. There is no doubt that this is one of the best locations in the city for further development of a high quality residential scheme and discussions are ongoing with end users for the remaining three phases of the development. The site wide infrastructure installed as part of the first phase will support this future development of the site.
“The remaining three plots have planning approval for c.400,000 square foot across three buildings, and we continue to review our options for differing uses on those plots.”
Speaking about the contract award, Tim Harvey, ISG’s regional director, commented: “The PRS model brings a welcome boost to the availability of high-quality housing stock and our scheme for Grainger is ideally suited for young professionals working across West Yorkshire and beyond who are seeking a central city location with great transport links.
“This project will kick start the wider regeneration of this strategic site in Leeds, creating a vibrant new community and improving the public realm in this underused location.”