SkyscraperCity Forum banner
1 - 18 of 18 Posts

·
Registered
Joined
·
4,859 Posts
From the next executive board meeting on Tuesday.

To consider the report of the Director of City Development that provides an update in relation to the Capital Receipts Programme, to seek support to the continued disposal of surplus property assets, and to recommend the disposal of a number of key sites.

Lisbon Street – A 1.12 hectares mixed use development site with potential for office, residential, hotel and education uses together with an area of public realm as identified within Plan 1.

Following Executive Board approval in 20 March 2019 a marketing campaign was undertaken and the Council has subsequently received a number of offers which have been reviewed internally. A number of parties have been shortlisted and final submissions and offers were received on 18 November 2019.

It is envisaged a report will be taken to Executive Board in February 2020 to select a preferred and a reserve bidder. On the assumption that a conditional contract for sale is agreed, it is likely that the capital receipt could be secured in 2021/2022.
The documents also say the Leonardo and Great George Street building should sell 2019/20, they don't say to whom however, see the entry regarding this site.

In particular the sale of the Leonardo complex of offices is not proceeding as anticipated, although work is taking place to complete the sale by the end of the current financial year.
Sovereign Square plot B due to sell 2020/2021.

Meadow Lane Development Plot to sell 2021/2022
 

·
Registered
Joined
·
4,859 Posts
The council should make the sale of the land contingent upon the developer actually building the scheme. There was a lot of fan fair about the Rossington Street Leonardo buildings and nothing actually happened.
 

·
Registered
Joined
·
4,859 Posts
The hotel building looks very good. The other buildings are far too white, the bronze accents need to be more dominant. The form of the BTR blocks is also good, The student building looks far too blocky and reminds me of White Rose View (which isn't good!). The office of course is just indicative,
 

·
Registered
Joined
·
4,859 Posts
here is the PW article.



Former swimming pool site in Leeds sold to joint venture
By Anviksha PatelThu 10 June 2021

Leeds City Council has sold a former swimming pool site to Marrico Asset Management and Helios Real Estate to redevelop into a £270m mixed-use scheme.

Lisbon Square

Lisbon Square

The masterplan for the 2.8-acre redevelopment – named Lisbon Square (pictured) – is set to deliver 500 student accommodation units, 400 build-to-rent apartments, a 300-bed aparthotel with shared workspace and 150,000 sq ft of office space.

The joint venture between Marrico and Helios submitted a planning application as Property Week went to press. If the scheme is given planning permission, construction is expected to start in the first quarter of next year.

The scheme will be delivered in two phases. The first will comprise everything except the office space, which will be brought forward as the second phase.

The 1960s International Pool swimming facility closed in 2007 and was demolished in 2009. The site is currently home to two surface car parks.

Helios real estate chairman Trevor Cartner told Property Week: “We knew we wanted it to be residential led. Once we decided that, we knew that BTR was the way to go. We also knew that there was a demand for student accommodation in Leeds, but of fairly high quality.

“Then to make it into a genuine mixed-use scheme, we wanted a hotel on site, which will have some co-working space and restaurant provision in the same tower. And then the final element will be office space.

“We’re in the legal process with an operator for the BTR tower, the student element and for the hotel as well. We hope to have all of those signed soon before we make a start on site by the first quarter of next year.”

Cartner said the former swimming site was ‘crying out’ for redevelopment.

“I was a competitive swimmer and I swam in the national championships in that pool,” he said. “It’s a fantastic site in the middle of Leeds but it just cries out for development.

“We’re spending a lot of time and effort, and on the public realm we’ve given a lot of thought to views through the site and how the square will look when it’s finished.”
 

·
Registered
Joined
·
4,859 Posts
Honestly I'm not that optimistic, it's going to be visible from quite a few angles. Fingers crossed it looks good.
I agree, I think they are awful, just a small step up from White Rose View which I think is hideous. I'd rather the plot lay empty for a few more years for a more decent proposal to come forward.
 

·
Registered
Joined
·
4,859 Posts
Very disappointedly the scheme phasing has now been split in to four. The original plan was for the two btr buildings, student accommodation and aparthotel to be built in the first phase with the office second. Now the student building is first (what a surprise!), btr second, aparthotel third and office fourth. I think this illustrates how dire construction inflation is in making weaker parts of the scheme unviable. Perhaps it isn't so bad as the awful btr part may never be built out!

 

·
Registered
Joined
·
4,859 Posts

Cortland Group buys Marrico Helios JV’s £138m Leeds BTR scheme
By Laura McGuireTue 26 April 2022
The joint venture will develop a scheme with a £138m GDV comprising 629 apartments across two buildings of 33 and 22 floors above a single podium with 14,000 sq ft of amenity and commercial space.

Construction will start in summer and completion is set for mid-2024. Cortland will own and operate the completed apartment buildings.

The wider Lisbon Street scheme – worth a GDV of £300m - will also incorporate 500 purpose-built student accommodation units and a further two phases for hotels and offices.

RG Group has been appointed as contractor with RBA as project manager and DLA as architect.

Marrico partner Richard Bland said: “We are delighted to have signed this deal with Cortland for our flagship scheme in Leeds. This will be one of the city’s landmark buildings and we believe will set new standards in BTR accommodation in the city.”

The Lisbon Street site was acquired from Leeds City Council following a competitive tender. Marrico and Helios exchanged contracts last year.

Helios chairman Trevor Cartner added: “Leeds is one of the biggest markets for BTR outside of London and we are developing a best-in-class building for Cortland. We will now focus our energies on the remaining phases of the site.”

BNP Paribas Real Estate acted for the Marrico Helios joint venture.
 
1 - 18 of 18 Posts
Top