Build to Rent developer and operator – PLATFORM_ – has announced it has exchanged contracts to purchase a large city centre gateway site in Leeds from a subsidiary of Burberry. The acquisition continues PLATFORM_’s policy of targeting London and key regional towns and cities.
“We’re delighted to have secured a site in another major UK regional city and are actively looking to make further acquisitions over the coming months.”
Stewart Knight, Acquisitions Director, PLATFORM_
Located on Sweet Street, the eight-acre site has lapsed planning consent for a 935,000 sq ft residential-led mixed use development. PLATFORM_ will submit a new planning application for a combination of both Build to Rent and private sale residential, offices and other ancillary uses.
“As part of our due diligence we engaged in a pre-app process with Leeds City Council and had a positive series of meetings with their officers. We will be engaging in a program of consultation with local stakeholders and the wider community prior to submitting a formal planning application over the coming months.”
Matt Willcock, Development Director, PLATFORM_
PLATFORM_ currently operate a portfolio of 608 Build to Rent apartments across Bedford, Bracknell, Crawley, Exeter and Stevenage – which are held in its joint venture with Invesco. The company has also started the construction of its developments in Cardiff, Sheffield and Glasgow, which combined will deliver over 1,000 Build to Rent apartments and held in its recently announced joint venture with American investor Northwood. Recently, PLATFORM_ secured planning permission for 453 apartments at its site in Edinburgh. The Leeds acquisition takes PLATFORM_’s secured development pipeline to over 2,500 apartments.
PLATFORM_’s approach is defined through four brand pillars: Thoughtful Design, Smart Tech, PLATFORM_ Life and Responsive Service. These combined pillars enhance the traditional residential offering and create a reimagined renting experience.
PLATFORM_ is also committed to delivering sustainable buildings and the company is one of the first operators to adopt the BREAAM In-Use Residential Scheme to benchmark the performance of its operational assets and provides residents with 100% renewably sourced electricity across the portfolio. In 2019, the company was recognised as Build to Rent Operator of the Year at the Property Week Management All Stars awards.
