Bankfoot APAM has secured planning consent for the redevelopment of Zurich House in Leeds on behalf of Cape Town-based investor New Property Ventures (NPV).
The redevelopment will transform the existing 1990s office building into a modern build-to-rent (BTR) residential scheme comprising 170 apartments, 5% of which will be affordable.
The onsite amenity provision will include residents’ lounges, workspaces, play areas and a roof terrace offering views across the city.
Bankfoot APAM and NPV are actively exploring strategic funding options for the redevelopment, including forward-funding and outright disposal, to maximise stakeholder value.
Andy Day, senior director at Bankfoot APAM, said: “This site reflected a clear shift in demand – where office use was no longer viable, the highest and best use became sustainable, high-quality rental homes. As a multi-sector development manager, our role is to identify and deliver value-added strategies for clients with underperforming assets.”
He added: “We see a direct correlation between sustainable design and long-term asset performance. Market data supports the view that best-in-class developments lease faster, maintain value, and attract long-term occupiers – underscoring the critical role of ESG in real estate investment.”
