PLATFORM_ announces purchase of eight-acre Leeds site

21 Jun PLATFORM_ announces purchase of eight-acre Leeds site

PLATFORM_, the BTR developer and operator, has exchanged contracts to purchase a large city centre gateway site in Leeds from a subsidiary of Burberry. The eight-acre site, which is located on Sweet Street, has a lapsed planning consent for a 935,000 sq ft residential-led mixed use development. PLATFORM_ will submit a new planning application for a combination of both Build to Rent (“BTR”) and private sale residential, offices and other ancillary uses.

The acquisition continues PLATFORM_’s policy of targeting London and key regional towns and cities.

PLATFORM_ currently operates a 608 apartment BTR portfolio covering Bedford, Bracknell, Crawley, Exeter and Stevenage, which are held in its joint venture with Invesco. It has also commenced construction of its developments in Cardiff, Sheffield and Glasgow, which will together deliver over 1,000 BTR apartments and held in its recently announced joint venture with American investor Northwood. In addition, it recently secured planning permission for 453 apartments at its site in Edinburgh. The Leeds acquisition takes PLATFORM_’s secured development pipeline to over 2,500 apartments.

Stewart Knight, PLATFORM_’s Acquisitions Director, said
“We’re delighted to have secured a site in another major UK regional city and are actively looking to make further acquisitions over the coming months.”

Matt Willcock, PLATFORM_’s Development Director, said
“As part of our due diligence we engaged in a pre-app process with Leeds City Council and had a positive series of meetings with their officers. We will be engaging in a program of consultation with local stakeholders and the wider community prior to submitting a formal planning application over the coming months.”