New property deal expected to bring £100m worth of investment to Leeds

A Yorkshire property investment firm has announced a £10m deal for its student and aparthotel portfolio in Leeds city centre.

The Parklane Group’s move is expected to attract investment upwards of £100m into Leeds City Centre.

A London based asset manager, on behalf of a Canadian pension fund, has obtained the 0.4 acre site, Bridge House, ’‘unconditional’’ which will be transformed into luxury apartments to support the long-term rental community.

The acquisition further strengthens the value of Leeds city centre prime development land, priced at over £20m per acre.

Contracts were signed on Tuesday October 26 for the formerly derelict site located opposite the former Yorkshire Post building.

Mr Naveen Ahmed, managing director of The Parklane Group, said: “Following this incredible deal, we are refocusing our energies on growing our two core brands; Roomzzz Aparthotels and market-leading PBSA; IconInc.

“We have massive expansion plans for both brands and there are very exciting times ahead for The Parklane Group. We’re actively seeking new opportunities in the marketplace and both brands are now on a trajectory for rapid growth.’’

Naveen added: “In addition to the existing extensive property portfolio in the UK, Leeds is home to over 600 student rental properties and the award-winning brand, IconInc, which was launched in 2015 and has been named the UK’s Best Luxury Student Accommodation Provider.

“Leeds is also home to three of the businesses 11 market-leading, award-winning Roomzzz Aparthotels.”

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