
Investments
Landlord News
March 12, 2016 | Landlord News
Having purchased the 22-acre Tetley’s Brewery site last year from Carlsberg UK, Vastint – the property division of IKEA group – have decided that they want to build up to 1,635 news homes there. The initial estimates by the planning chiefs at Leeds City Council suggested 730 homes, but the new owners have more ambitious ideas.
The firm claims that their initial work on the Brewery site indicates that it could significantly exceed the proposals in the Aire Valley Leeds Area Action Plan (AVLAAP). They also argue that its “sustainable and accessible location” justifies a higher density development. However, an actual planning application is not likely to appear for a few years.
Councillors on the Development Plans Panel have commented favourably on the new plans, with the caveat that they will be expecting very high quality urban design.
The AVLAAP, a document that has so far taken 11 years to compile, is now close to being signed off. It will lay down the rules on the type and amount of new development to be build across key areas of Leeds in the future.
There is approximately 400 hectares of developable land between Leeds city centre and the M1. If Vastint has their way, the Tetley’s Brewery site will be one of the largest urban housing schemes in the Leeds area.