Back to news

Leeds City Centre Lacking Residential Rental Space

October 29, 2013 | Company News   Landlord News  

Share this article  

Barely a month goes by without some exciting new development scheme being either announced or completed in Leeds city centre these days. Bucking the general trend of the rest of the country, Leeds has made rapid progress during a time of recession, drawing in more professionals looking for work and a place to live.

Unfortunately, although there are 10,000 apartments across 35 schemes with planning approval in Leeds city centre, they are all on hold. Incredibly, there isn’t one noteworthy residential development under construction, despite obvious demand. Even if construction started today, the new apartments would not be available to rent for about two years.

16bon_city_island_14_400

Jordan Yorath of Countrywide said, “If just 10% of these properties are delivered in this time frame, I am confident that rising sales values and increased pressure on the lettings market will mean that a developer who takes the bold step to start building now, would reap the rewards on completion.“

Countrywide, which owns both Flatsinleeds and Bridgfords brands in Leeds city centre, estimates that, from September, the number of properties available to let account for just 1.5% of all city centre apartments. Clearly, more are needed.

 

Back to news

You may also be interested in…

Super six HOP into new roles at the Horsforth branch

Company News

19/08/2021

Super six HOP into new roles at the Horsforth branch

Read more  
3 months of Horsforth!

Company News

Professionals

Sales

10/08/2021

3 months of Horsforth!

Read more  
We offer Covid-19 testing to all our staff, helping us keep you safe!

Company News

07/06/2021

We offer Covid-19 testing to all our staff, helping us keep you safe!

Read more