Leading International Property Consultants LH1 Global have brokered one of the UK’s most exciting residential development deals in the thriving City of Leeds. Occupying a prominent position on Leeds South Bank, the site was sourced by LH1 Global, on behalf of Pascoe Homes.
The expansive site sits within the South Bank Regeneration Project, one of the largest inner city regeneration projects in Europe, which is projected to double the size of the City Centre.
Pascoe Homes’ proposed development, with the working title ‘South Bank Riverside’, will deliver c.400 luxury apartments, with an expected Gross Development Value (GDV) of c.£100m. LH1 Global will retain the exclusive International Sales and Marketing rights for the project. Funding for the project will be provided by Hilltop Credit Partners, who were also the lead funders for Pascoe Homes’ New Town development in Ashford, Kent.
Commenting on the substantial deal, Dubai-based Founder of LH1 Global, Benjamin Hunter said: “We are absolutely delighted to be working once again with Pascoe Homes, one of the finest Developers we’ve had the pleasure of working with. After a highly successful first project together in Ashford, Kent, which sold out in record time, Pascoe Homes were the obvious developer partner when we sourced this prominent site on Leeds’s South Bank.”
Chris and Rich Pascoe, Managing Directors of Pascoe Homes, said: “We are going to deliver something very special at South Bank Riverside. This is a strategic site, which will play a major role within the regeneration of this highly coveted area. Residential development opportunities are few and far between in this thriving city, so we are very pleased to have secured this deal, which will be a landmark development for Leeds.
“Furthermore, South Bank Riverside will further enhance our presence in the North of England, which is key to our national expansion programme with our trusted partners at LH1 Global.”
Previously, LH1 Global supported Pascoe Homes at their New Town development in Ashford Kent, with the international property consultants managing the sales and marketing programme. One of the UK’s most sustainable residential developments, all 93 apartments were sold in less than 12 weeks. The development was positioned by LH1 Global as a secure investment opportunity, with excellent value growth potential, which has since achieved record rental values for the area.
The South Bank Riverside development represents the second deal by the collaborative trio, who will now, to date, be responsible for delivering a total of 500 new homes across the UK. Land sourcing and international sales have been led by LH1 Global, construction and delivery by Pascoe Homes, whilst Hilltop Credit Partners has provided the requisite development funding. The collective plan to build a pipeline in excess of 1,000 units in the next 12-24 months, with an active search for new city centre sites and projects in process.
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