Specialist lender Together has agreed a loan for a developer to buy a plot of disused industrial land, paving the way for a new residential tower on the South Bank in Leeds.
Property investor Countrylarge is completing the purchase of land on the corner of Sayner Lane and Carlisle Road, near the Royal Armouries Museum, after securing the short-term loan. The wedge-shaped brownfield site currently has outline planning permission for a development of 150 apartments, which was granted last November. However, Countrylarge is preparing a fresh application for the sustainable development of the 0.2 hectare plot.
It expects to submit the new application to planners at Leeds City Council within the next few weeks. Antony Rosindale, of developers Country Large, said the proposed scheme would provide much-needed homes for young professionals. 'Our strategy is to deliver build-to-rent apartments, which will provide good quality homes,” he said. The £500m South Bank regeneration, first put forward by the council in 2011, is one of Europe’s largest regeneration projects.
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