CBRE and JLL have launched an exciting mixed-use development opportunity with the potential to deliver purpose-built student accommodation (PBSA) in Leeds. Lovell Park has been brought to the market on behalf of Lloyds Banking Group.
The site is just a short walk from both the University of Leeds and Leeds Beckett and is 3.87 acres in size.
Lovell Park is a prominent office building at the intersection of the inner ring road and Clay Pit Lane. The site is occupied by three inter-connected office buildings of six storeys including two levels of basement parking. The approximate net internal area of the office building is 271,466 sq ft.
Situated to the north side of Leeds city centre, the area has seen significant development in recent years. Lovell Park benefits from excellent public transport links having several bus stops on Lovell Park Road and Grafton Street. Leeds Train Station is a 20 minute walk away and provides direct and regular access to Manchester, York and London.
CBRE’s Planning & Development team at have held detailed pre-application discussions with Leeds City Council to determine the feasibility to deliver 1,446 PBSA units alongside Build to Rent homes. These units would be in five development parcels ranging from six to 30 storeys in height.
Leeds City Council said that proposals for both are acceptable in principle and would usefully contribute to the core strategy’s aim of delivering 8,052 new homes in central Leeds.
The proposals make efficient use of Brownfield land in a highly sustainable location and the uses proposed would help sustain the vitality and viability of existing businesses in the city centre.
The provision of Build to Rent within the scheme would help assimilate the PBSA element and avoid an excessive concentration of student accommodation in the locality. Also, the principle of loss of office accommodation is accepted subject to appropriate justification, given surplus office supply in the city centre.
