£50m mill conversion attracts global interest as scheme enters second phase
A new mill conversion in Leeds worth over £50m has attracted buyers from around the world as it enters its second phase of construction.
Victoria Riverside in Hunslet, which is being developed by JM Construction (Leeds) Ltd, has seen interest from investors in Australia, Hong Kong, America and the Middle East.
John Mulleady, managing director of developer JM Construction (Leeds) Ltd, explained: “Interest from overseas investors has been exceptional.
“They see Leeds as a city which is on the up and the demand for quality accommodation from people relocating to the area means they can expect a positive return on their investment.”
Comprising 85 apartments so far, the development has recently entered its second phase with 74 new properties currently being constructed.
On completion, Victoria Riverside will extend to approximately 350 units, including rooftop penthouses and an on-site convenience store.
In addition, the scheme includes the conversion of a former Grade II and Grade II Listed flax spinning mill and some new build blocks on the brownfield site adjacent to the River Aire.
Trevor Mitchell, Historic England Regional Director (North East and Yorkshire) said: “JM Construction and their professional services partners are to be applauded for their vision and commitment to such an ambitious project.
“Textile mills were once the workshop of the world and the original northern powerhouse. They are fundamental to the history, culture and landscape of northern England.
“As Victoria Riverside demonstrates, mills are full of character and make for wonderful homes, workplaces and cultural spaces. Not only do they offer a tangible link to the past, they also deserve to be restored to their former glory and enjoyed by current and future generations.”
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