£1m worth of apartments sold in Leeds' Northern Quarter over four weeks

Estate agents and property specialist, Adair Paxton, has sold over £1m worth of newly overhauled apartments in Leeds over a four week period.

The agent is selling 120 of the 171 flats in Concord Street, part of the city’s Northern Quarter.

All 120 of Adair Paxton’s client’s flats are being refitted and redecorated in a rolling programme, now about 60% complete. These are finding a ready market at rising rents.

Adair Paxton also manages 100 of the flats.

Nicola Thompson, residential sales director at Adair Paxton, said: “These apartments in the increasingly popular Northern Quarter of the city were in desperate need of professional attention. Now with a thorough renovation, they are set to become a significant element in our portfolio.

“They offer a real opportunity to investors and owner-occupiers alike, and proving a great showcase for our agency, management and consultancy practises. We are delighted we have already realised such a significant sum.”

Helped by their proximity to the University, City Centre and Victoria Gate, occupancy levels have been at 97% even prior to refurbishment.

Nicola continued: “Concord Street is a first-class example of apartments which have been seen as testing and an unattractive investment.

“Our multi-disciplinary business has successfully overcome many challenging issues and now feel fully justified in recognising their potential.”

The main contractor is McLaughlin & Harvey and the project manager is Hughes McMichael, both based in Belfast.