£100m Leeds city centre development to deliver 400 luxury apartments

International property consultants LH1 Global have brokered an “exciting” residential development deal in Leeds. Occupying a “prominent position” on Leeds South Bank, the site was sourced by LH1 Global, on behalf of Pascoe Homes.

The expansive site sits within the South Bank Regeneration Project, one of the largest inner city regeneration projects in Europe, which is projected to double the size of the City Centre.

The proposed development, with the working title ‘South Bank Riverside’, will deliver 400 luxury apartments, with an expected Gross Development Value (GDV) of £100m.

LH1 Global will retain the exclusive International Sales and Marketing rights for the project. Funding for the project will be provided by Hilltop Credit Partners, who were also the lead funders for Pascoe Homes’ New Town development in Ashford, Kent.

Dubai based founder of LH1 Global, Benjamin Hunter, commented: “We are absolutely delighted to be working once again with Pascoe Homes, one of the finest Developers we’ve had the pleasure of working with.

“After a highly successful first project together in Ashford, Kent, which sold out in record time, Pascoe Homes were the obvious developer partner when we sourced this prominent site on Leeds’s South Bank.”

Chris and Rich Pascoe, managing directors of Pascoe Homes, added: “We are going to deliver something very special at South Bank Riverside. This is a strategic site, which will play a major role within the regeneration of this highly coveted area.

“Residential development opportunities are few and far between in this thriving city, so we are very pleased to have secured this deal, which will be a landmark development for Leeds.

“Furthermore, South Bank Riverside will further enhance our presence in the North of England, which is key to our national expansion programme with our trusted partners at LH1 Global.”

Previously, LH1 Global supported Pascoe Homes at their New Town development in Ashford Kent, with the international property consultants managing the sales and marketing programme. One of the UK’s most sustainable residential developments, all 93 apartments were sold in less than 12 weeks.

The development was positioned by LH1 Global as a secure investment opportunity, with “excellent value growth potential”, which has since achieved record rental values for the area.

By Matthew Neville – Correspondent, Bdaily