Freehold Residential Development Opportunity

Land at York Road, Leeds, West Yorkshire

 

  • For sale via Informal Tender
     
  • Initial phase of the East Leeds Extension – North East Quadrant, the largest proposed residential development in Leeds’ history
     
  • Up to approximately 27.24 acres net developable area, with Committee resolution to grant Outline planning consent for residential development
     
  • Full suite of technical information available to download from the ‘Documents and Downloads’ section of this website
     

 

Overview

On behalf of our clients, White Laith developments Ltd., we have pleasure in offering for sale a supurb residential development opportunity at York Road, Leeds. The opportunity forms the initial phase of the proposed East Leeds Extension, North East Quadrant, that when complete, will deliver the East Leeds Orbital relief Road (ELORR), together with the most important strategic urban extension seen in Leeds.

The North East Quadrant will deliver in total approximately 2,000 new homes, new infrastructure in the form of a new primary school, Public Open Space and local centre in addition to the North East section of the ELORR. Our clients control land that will deliver approximately 60% of the total number of residential units in the North East Quadrant, and are part of a consortium with the two other landowners with the remaining interests.

 

The Opportunity

The subject site is depicted as land under Title no. WYK414322 on the wider master plan, as shown below and available to download in the ‘documents and downloads’ section, extending to 25.80 ha (63.17 acres) in total, with a net residential developable area of 11.02 ha (27.24 acres). The land for the ELORR and Country Park will be drawn down by Leeds City Council, in April 2018. The remaining land outside of the country park (to the east) will remain in the ownership of White Laith Developments Ltd. We are seeking offers for a minimum of 10 net developable acres, but will consider offers for the whole of this phase.

The site is offered to the market on the basis of the purchaser servicing the site, whether the proposal is for the whole or a minimum of 10 net developable acres. A roundabout is to be constructed on the A64 York Road that will serve both the new development and the ELORR, and this has been fully costed by Leeds City Council (LCC). The design for the roundabout can be found in the ‘documents and downloads’ section. The ELORR itself is to be delivered by LCC, but funded by a ‘roof tax’, with a payment of just under £12,000 payable on completion of each unit towards the delivery of ELOR. The cost of the roundabout on the A64 is to be deducted from the roof tax provision, i.e. the first circa 275 units will benefit from a ‘roof tax amnesty’, assuming the preferred developer undertakes the delivery of the roundabout Should the construction of the roundabout not have started when LCC look to draw down the land for ELORR (April 2018), LCC will ‘step – in’ and deliver the roundabout themselves. Should this be the case, there will be no ‘roof tax amnesty’, and the ELORR roof tax will be payable on all units delivered.

 

Town Planning

The proposed North East Quadrant benefits from a Committee Resolution to grant Outline Planning consent for up to 2,000 homes, subject to the signing of a Sec. 106 Agreement. The Sec. 106 Agreement has been substantially agreed with Leeds City Council, and provides the following planning gain:

  • 15% of the total number of units to be provided as affordable housing
  • Education Contribution (both on-site land transfer and off-site contribution)
  • Commuted Sums for Open Space provision and management, and Country Park Provision (land transfer and laying out/ management)
  • Public Transport provision (bus extension zones and service contributions)
    Implementation of a Travel Plan

(Further information relating to the financial implications of the Sec. 106 Agreement and wider delivery strategy will be provided in due course. Note the application was approved by Committee prior to the introduction of CIL)

 

Further Information

All details relating to the wider Outline planning application is available to download in the ‘Documents and Downloads’ section. There is also details of the proposed Drainage Strategy for the wider site.

Our clients have instructed Lithos to produce an Intrusive Ground Investigation for this phase, also available to download.

For further information relating to the wider planning application, please visit the following link:

http://www.leeds.gov.uk/residents/Pages/Northern-Quadrant.aspx

 

Tender Process

The land is offered for sale via informal tender. Offers are to be submitted in writing at our Leeds office by 12.00 noon on TBC. All offers are to be accompanied by a completed ‘Bid Proforma’ (to be provided in due course), together with your proposed layout.

We are instructed to seek offers for a minimum of 10 net residential developable acres, although offers for the full 27.24 acres will be considered. We will also consider joint bids.

Please note, there will be an obligation on the purchaser to construct the main spine road to the boundary of our clients adjacent retained land to the north, in a timescale to be agreed.

Local Centre – You will note the master plan provides for a ‘local centre’ within this phase. Offers should be explicit as to how perspective purchasers intend to treat this land should offers be made for the entire developable area, i.e. is this to be retained by our clients, does it form part of the potential acquisition etc. Should you wish to include its acquisition as part of your proposal, please state the value apportioned to this element. This will form part of the Bid Proforma.

 

Viewing

The land can be viewed from both York Road and Thorner Lane. Should you wish to walk the site, please contact the selling agent to arrange a suitable time. Please note the land is working arable farmland, and as such please do not walk over it without prior approval.

 

Contact

For further information, please contact:

Matthew Bagley
Tel: 0113 898 0745
Mob: 07912 952 502
matthew@titchmarshandbagley.com