Leeds city centre Chinese restaurant to be transformed into student residential scheme
Gregory Property Group has exchanged contracts to purchase a one-acre site on Bingley Street in Leeds city centre for a brand new student residential development.
The site is currently occupied by Maxi’s Chinese restaurant which plans to relocate within the area if a suitable opportunity presents itself.
WYG on behalf of Gregory Property Group has submitted a full planning application to demolish the existing restaurant and deliver a multi-storey purpose-built complex to house around 400 bedrooms.
Barry Gregory of Gregory Property Group said: “We are pleased to have secured this site through competitive tender which recognises the credentials of our long-established business to deliver sustainable development.
“The appetite for high quality student accommodation continues to grow apace with Leeds being one of the top ten university destinations in the UK. With a growing student population of around 60,000 students in the city there remains sustainable demand.
More than half the student population is made up of University of Leeds which has a growing number of international students who have a propensity to stay in purpose built student accommodation (PBSA).
This particular site sits within a PBSA location, where accommodation is most needed.
The University of Leeds is the city’s largest institution with over 30,000 students, more than half of the full-time student population. Leeds Beckett University attracts nearly 19,000 students, whilst the city’s three smaller, specialist institutions account for over 5,000 full-time students.
Gregory Property Group is aiming to start on site in February 2019, subject to planning consent.
Michael Leonard of Carisbrooke Estates acted on behalf of Gregory Property Group in the acquisition of the site.