Land at Flax Place, Leeds West Yorkshire
The site extended to 1.3 acres, situated in Leeds City Centre with planning consent for 200 apartments in a 7/8 storey building, including a double basement car park.
Acting on behalf of a major international financial institution, we were instructed to sell the site via informal tender, with a preference for an unconditional deal. Owing to the nature of the client, our agreed marketing strategy needed to ensure the opportunity reached the widest audience both nationally and overseas, without advertising in any property press. The key challenge was to generate serious interest in a site that represented an appealing location, but benefitted from a planning consent that was unviable to build owing to build costs, whilst maximising value for the client on an unconditional basis.
Relying on our market knowledge, and extensive database of contacts, a significant level of interest was generated , including local, regional, national and international property companies and funds. This resulted in more than 10 offers for the land.
A sale was secured to a London based fund to deliver Leeds’ first new build residential scheme for the Private Rented Sector, on an unconditional basis, at a value significantly exceeding the clients expectations.