HBG Properties acquires 9½ acre development site in Leeds
London, 31 October 2005 – HBG Properties, the national property development arm of HBG UK Ltd, has acquired a large development site close to the centre of Leeds for £19.25 million. The 9½ acre site is to be regenerated by HBG for mixed use, including offices and residential properties as well as a small retail element.
The site fronts Whitehall Road, the Leeds-Liverpool Canal and the River Aire, with the mainline railway forming the southern boundary. Formerly the site of the Monk Bridge Iron & Steel Works, the land is a clear reminder of Leeds’ industrial heritage, with a variety of engineering buildings and forges dating back to the 1840’s and bisected by a Grade II Listed stone Victorian viaduct that dates back to 1847.
Although there is existing outline planning approval for this site, HBG will submit a revised outline planning application which, whilst retaining the original mixed use, will increase the commercial element to approximately 500,000 ft2 of office space. The remainder will be residential, including affordable units, and also A1 and A3 retail space. To facilitate this, HBG is conducting a limited competition for a master plan for the site, with four architects competing (Aedas Architects, Allies & Morrison, EDAW and Make).
Ian Pennington, Director of HBG Properties and based in Leeds, said: “We are very pleased to have secured this important site in Leeds and are excited by the prospects of developing a strategic modern new environment for the business community here. The site will be quite self-contained, but will have very good access to the main transport links into and around Leeds. We see this as a prime opportunity to attract existing and new, growth-orientated companies into the centre of this city.”
Acquisition agents, Hill Woolhouse of Leeds, acted on HBG Properties’ behalf and the Letting Agents will be DTZ Debenham Tie Lung and Hill Woolhouse, both of Leeds.
The new development, planned for a start of works in mid 2006, extends the already vibrant regeneration of Leeds City. Earlier this year HBG Properties developed Lateral, a fully specified Grade A headquarters office building at Sweet Street, providing nearly 100,000 ft2 office space close to Leeds City Centre adjacent to the M621, linking the M1 and M62.
For further information please contact:
Alan Smith, telephone 020 8338 2635, or Lucie Culkin, telephone 020 8338 2710.