Keyland Developments has sold a residential development site in Pudsey, West Yorkshire, to Leeds Federated Housing Association for an undisclosed price.
Keyland – the property trading arm of Kelda Group and sister-company to Yorkshire Water – secured outline planning consent from Leeds City Council for 54 new homes on the 5.5-acre site, which is located adjacent to Owlcotes Reservoir, under a planning promotional agreement (PPA) with a local landowner in 2021.
Matthew Turnbull, land and planning manager at Keyland Developments, said: “We are delighted to have completed our first PPA sale with this site. The purpose of our PPA agreements is to align our interests with those of the landowner, and it enables landowners of any scale to maximise the potential from their sites without incurring any risk or cost to themselves. The planning consent and subsequent sale to Leeds Federated Housing Association has facilitated new homes to contribute to the local authority’s long-term housing targets.”
Phil Roebuck, partner at Cushman & Wakefield, who acted for Keyland on the land sale, added: “The unlocking of this site in a highly sustainable location has enabled the delivery of new homes at a time when regional shortages are well documented. The new development will complement its surroundings and benefit from nearby amenities, services, and transport.”
