A private overseas investor has acquired the Headingley Park residential scheme in Leeds from Addington for £27.65m.
Set within a 6.5-acre estate just a short commute from Leeds city centre, the 222-unit private gated scheme, which is popular with young professionals and postgraduate students, comprises 43 studios, 143 one-bedroom and 36 two-bedroom apartments.
Headingley Park was delivered through the permitted development rights conversion of five former office buildings between 2016 and 2024. Onsite property management company AddLiving, Addington’s sister PM company, has been retained to continue to manage the estate by the new owners.
Martin Roberts, principal at Addington said: “Addington has asset managed Headingley Park since 2014 and we are proud to have created homes for Leeds’ thriving young professionals out of redundant office accommodation. The scheme has been a success and is an exemplar for permitted development conversion of offices to residential and we believe should be a road map for future schemes.”
Harrison Collins, partner in the residential investment team at Knight Frank, added: “The sale of Headingley Park presented a rare opportunity to acquire a substantial, high-quality residential portfolio in one of the UK’s fastest-growing cities. Its combination of strong yields, community focus, and sustainability features made it an attractive proposition for investors seeking to capitalise on the thriving Leeds market. It was a pleasure to act on behalf of Addington and we look forward to seeing the site prosper under the new buyer.”
Mark Ibbotson, senior associate at Allsop, which acted on behalf of the overseas investor, said: “With our in-depth regional knowledge and ability to successfully source high-quality, income-generating assets across the UK, Allsop is uniquely placed to help clients grow their portfolios.
“We have seen steady demand for well-located, income-generating schemes, particularly from overseas buyers looking for stable and secure investment destinations and we anticipate even greater appetite for such opportunities in the coming months. This acquisition is evidence of continued investor confidence in Leeds and the wider Yorkshire region, and we expect this trend to continue.”
