Lovell Park, Leeds

• Development opportunity in Leeds City Centre
• The brownfield site extends to 3.87 acres (1.57 hectares) gross
• Positive planning pre-application for 1,649 residential units
• Rare opportunity to acquire a development opportunity of this scale
• Walking distance to both the University of Leeds and Leeds Beckett University

Overview

The site extends to 3.87 acres (1.57 hectares) and is roughly triangular in shape.

The topography of the site is gently sloping from Clay Pit Lane to the north west, down to Lovell Park Road to the south east. The site is occupied by three inter-connected office buildings of six storeys including two levels of basement parking. The approximate net internal area of the office building is 271,466 square feet. The boundaries are defined by Elmwood Lane to the north and Lovell Park Road to the east, both of which have residential accommodation beyond. To the south is the Inner Ring Road (A64) with Clay

Pit Lane (A58) to the north west. Vehicular access to the site can be gained from Lovell Park Road, with a further two pedestrian access points to Lovell Park Road and Clay Pit Lane.

Location

Lovell Park is a prominent office building at the intersection of the Inner Ring Road and Clay Pit Lane. Situated to the north side of Leeds City Centre, the area has seen significant development in recent years.

Due to the close proximity to the major universities, the area has become extremely popular with students for city centre living and the focus for prime PBSA development. Both

Leeds Beckett and the University of Leeds can be reached within a 10 minute walk of the subject site. The student population has attracted a range of amenities to the area, including new bars, restaurants and retailers. The site sits adjacent to the major Leeds landmark, the First Direct Arena.

Lovell Park benefits from excellent public transport links having several bus stops on Lovell Park Road and Grafton Street. Leeds Train Station is a 20 minute walk away and provides direct and regular access to Manchester, York and London. The locality provides an excellent development opportunity for a variety of uses including residential schemes, PBSA, Build to Rent, hotel and offices.

Planning

The subject site may be suitable for a variety of other uses (subject to planning) to include affordable housing, hotel and private for sale.

CBRE’s Planning & Development team have held detailed preapplication discussions with Officers at Leeds City Council (LCC) to determine the feasibility of the comprehensive redevelopment of Lovell Park, to provide a high quality mixed use scheme, comprising PBSA and build to rent accommodation, with ancillary uses.

The scheme ultimately commented on by the Local Planning Authority consists of: 203 BTR units, 1,446 PBSA units, 5 development parcels ranging from 6 to 30 storeys in height, ancillary and amenity uses to the ground floor level and cycle/refuse/plant at basement level (utilising existing excavation).

Further Information

Please refer to www.lovellpark.co.uk to view/download all available documents, which include:

• Planning Pre Application
• Title Information
• Technical pack

Method of Sale

The subject site is for sale by way of Private Treaty; however we reserve the right to conclude the marketing by an Informal Tender process.

Viewings

Access will be provided to the building through a number of viewing dates. We ask interested parties refrain from entering without prior consent. Please contact joint agents JLL & CBRE to register your interest in arranging a viewing.

Offer Submission

We are inviting offers on an unconditional and conditional basis. An offer pro-forma will be provided within the data room, we ask interested parties to complete this in full as part of their offer submission.

Capital Allowances

Capital Allowances will be retained by the vendor.

EPC

Available upon request.

Rateable Value

Available upon request.

Title

We understand the site is Freehold and is registered at the Land Registry under title number WYK428517.

VAT

We understand the site has been elected for VAT.

All measurements are indicative and parties are advised to satisfy themselves.