Brand New City Centre Rental Apartments Hit The Market

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The first apartments are now ready to reserve at Leeds city centre’s latest residential scheme, which has been developed exclusively for the rentals market and has seen a stunning building on The Calls transformed into a 19 contemporary homes.

53 The Calls has been developed by Avenir Works and we’re currently taking reservations for the homes in advance of their completion during July.  A show apartment has also just been unveiled that is now open to view.

All the one and two bedroom apartments within the former office building combine a modern design with a wide range of character features including high ceilings, exposed brickwork and large windows.  This is all complemented by art décor influenced bathroom finishes, lightwood veneer floors and high specification kitchens complete with black granite work surfaces.

53 The Calls is one of the best developments that will complete in Leeds city centre this year.  It’s in a great location, close to the River Aire and just a few minutes away from the historic Corn Exchange, and lots of the city’s most popular bars and restaurants such as Red’s True Barbecue, Jakes, Roland, Graze, Shears Yard, Brasserie Forty 4, Oracle and The Lamb & Flag.

All the loft style apartments offer exceptional furnishings and a unique specification that maximises all of the building’s original features, and they are already proving popular with discerning tenants looking for high quality rental property in this sought after area.

The show apartment provides a real feel for the exceptional quality that flows throughout the whole development and we’d urge anyone currently looking for a standout home to visit and experience what’s on offer first-hand.

Prices at 53 The Calls range from £850 to £1,400 pcm and further information is available by calling Morgans on 0113 3980099.

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7 reasons why The Calls is the place to live

A riverside walk, a fine dining restaurant and all the bars you could dream of…
Here’s why The Calls is the place to live in Leeds

call lane

Firstly, the well-known night Life of Call Lane is just a short walk away…

(Picture: Leeds List)

Shears

There’s the fine dining and unique restaurant Shears Yard nearby

(Picture: Shears Yard)

River

It’s located just beside the river Aire

(Picture: Morgans City Living)

victoria gate

And is only a 6-minute walk to the brand-new Victoria Gate

Picture: (Hammersons)

leeds minster

Not to mention, it’s in the grounds of Leeds Minster

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The Calls area

and is also surrounded by more independent restaurants and bars that you could ever wish for

(Picture: Morgans City Living)

Visit-Leeds

and lastly, it is only a short walk into the centre of Leeds

(Picture: Visit Leeds)

 

Prominent City Centre Building To Be Transformed

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Leeds City Council has approved radical proposals for the reconstruction of 17 Wellington Street and 47 Aire Street, the scheme is located close to City Square and Leeds City Station and at the gateway to the continuing regeneration of the Leeds West End.

The building owners, Hallborough Properties Limited, advised by Holbeck Land, has received consent for the construction of 26 apartments and a 9,000 sq. ft. restaurant/bar and coffee shop offer on the ground and lower ground floors. The ornate frontage of 17 Wellington Street and the gable walls of the Grade II Listed building will be retained, with the majority of the rear extension to Aire Street demolished and replaced with a new six storey building.

Morgans City Living is advising on the residential units, which we will be letting and managing.

Architects Think Architecture has created a sympathetic blend of old and new structures connected by internal bridge links. A particular feature is the approval to create an extended “at grade” restaurant entrance on Wellington Street by the removal of existing steps.

This leisure element will have dual frontage to both Wellington Street and Aire Street and can be divided to suit individual occupiers’ requirements.

Barton Wilmore LLP, has provided planning and economic benefit advice in support of the granting of Planning Permission and Listed Building Consent.

Pudney Shuttleworth is retained to promote the leisure opportunity. Hallborough Properties is to retain the investment following completion of the development.

Nine New Starters At Morgans

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Nine new starters have recently joined Morgans, bolstering our office support team and rentals and sales divisions.

Holly Petterson and Cristina Harney join as receptionists, Matthew Kendrick, Jenny Sowerby and Phoebe Edwards join as property managers and Reece Burd has been appointed as an accounts administrator. Experienced rentals negotiator Lewis Williams and sales coordinator Laura Adams bolster the 12 strong sales and lettings team, and James Bruce will work as both a rentals and sales negotiator specialising in developing new business.

Business across our City centre and Headingley offices is up by around 10% in comparison to the same quarter last year.  The residential property market continues to gain momentum, especially in Leeds City centre where ongoing significant investment in new commercial developments, infrastructure and the retail and leisure offering is inevitably attracting more tenants, owner occupiers and property investors to the core of the City.

 

After The Flood – Work Completes On Morgans’ Office

Morgans new basement smallWork is complete on the £300,000 refurbishment of the lower ground floor of Morgans’ Dock Street office, which was submerged in more than five feet of water during the Boxing Day floods of 2015.

The basement project, which has been designed by Architecture 519, now boasts 2,000sq.ft of contemporary space, with a new kitchen, two themed break out spaces, a snug, bathrooms, showers and boardroom.

The basement is designed to feel completely different to the space upstairs.  A primary consideration in the design and specification was future flood resilience. Design features include extensive exposed brickwork, poured resin floor and surface mounted services delivering a more utilitarian feel to the space. Bespoke panelling, cladding and furniture has been developed to be demountable and constructed from water resistant materials.

This combines to create a really special area where the team can relax, away from the hustle and bustle upstairs.  It also has the potential to be used as an informal event or training space and will be a great asset for both Morgans and their partners in the business and charity communities.

Morgans was one of many businesses hit by the floods.  However, only 12 of 11,000 apartments in Leeds City Centre suffered flood damage over the Christmas period, despite extensive disruption across the city.

 

Buyers Praise Leeds Development

St Peters Hall LeedsAll of the apartments at an exclusive development of historic buildings in the grounds of Leeds Minster have sold within just a few weeks of the scheme completing.

St Peter’s House & Hall is a development of just 12 individual apartments, most of which have a parking space, on The Calls in Leeds City Centre.

St Peter’s House and Hall offered a rare opportunity for people to buy a new home in one of Leeds’ most popular residential areas.  The homes were purchased by both investors and owner occupiers.

The sensitive restoration of the attractive heritage buildings means that no two apartments within the Hall are the same, and they all benefit from a host of period features. St Peter’s House which sits alongside the Hall, has a mix of North facing apartments which enjoy stunning views of Leeds Minster, whilst those to the South side of the building overlook The Calls.

The luxury specification, contemporary kitchens and bathrooms and character features really set the tone for this high-quality, sensitively restored, beautiful red-bricked building and we are keen to bring other similar schemes to the market due to the levels of interest we had in this one.

 

New Developments Mean City Living Market Is Moving Again

17 Park RowConfidence in Leeds city centre’s residential property market is returning, with a number of small-scale developers launching schemes that have been specifically been built to rent, onto the market over the last 12 months.

There has been a lot of talk about the lack of supply being addressed through large scale Private Rented Sector ventures, which typically charge a premium for developments that are amenity rich, but in Leeds the market has always responded well to smaller-scale developments too.

The city’s latest apartment development, which offers a select range of highly specified and individual apartments is 17 Park Row.  The development is being marketed by Morgans and is one of several apartment schemes developed exclusively for the city’s rentals market in recent years.

There are just four, one bedroom fully furnished apartments, all finished to an extremely high standard and priced between £875 and £925 per calendar month and there’s also a superb penthouse complete with air-conditioning and Lutron lighting, which has immediately become one of the city centre’s highest specified homes, priced at £2,500 per month including utility bills.

The hugely impressive split level penthouse features Miele kitchen appliances with integrated wine cooler and coffee machine, marble work surfaces, a Sonos sound system, three large TVs and a decked terrace overlooking Park Row.

After a major shortage of new residential development in recent years, work is now underway on a growing number of schemes which is welcome news and these will help to ease demand for high quality rental apartments in Leeds city centre.

The array of schemes in the pipeline is also very positive for the market.  These range from CEG’s £350million South Bank development that will include up to 550 apartments, through to a growing number of innovative and small-scale developments such as 17 Park Row that are specifically aimed at the rentals market.  This development sits in a very sought after location at the heart of the city’s financial district and each apartment has been furnished and finished to an excellent standard, so they’re ready for tenants to move straight into.

Morgans Team Digs Deep For Local Charities

The Morgans team lend a helping hand at Hollin Lane AllotmentsA total of 38 people from Morgans were given the day off work so that they could volunteer at two local charities – Leeds MENCAP and Hollin Lane Allotments.

Half the team went to help Leeds MENCAP, where they painted their three activity rooms, and cleaned all the soft play area and ball pit, which is used by the young children who visit the centre.

The other half went to Hollin Lane Allotments, which are supported by Leeds Community Foundation, where they weeded, trimmed, wood-chipped and planted all day long. The aim was to help make the allotments less daunting for older people.

Everybody worked really hard and the local deli, Sebby’s, provided the team at the allotments with sandwiches and cakes. Some of the people who regularly volunteer on the allotments also made soup and offered hot drinks.

Everyone felt a great sense of achievement at the end of the day, and the charities were very happy with our efforts.

Leeds MENCAP provides services and activities to improve the lives and opportunities of children and adults with a learning disability in Leeds along with their families and carers from The Vinery Centre.

Leeds Community Foundation helps to bring together local philanthropists with dynamic local organisations and community groups that require funding and other resources. Hollin Lane Allotments is a community gardening project in North West Leeds supported by the Foundation.

 

What’s In Store For The Property Market In 2017?

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We are expecting big things in the city centre market this year. After a number of quiet years during which demand has remained very high whilst new supply has plummeted, we are finally going to see some new developments taking off. Since the downturn of 2007, the impact of which was felt for five or six years, we have become accustomed to living off scraps of new activity but that is about to change.

“A wave of small but perfectly formed new developments are beginning to take shape and will add much needed interest and vitality to a market which is critical to the commercial well-being of the city as a whole. It is essential that the incessant stream of inward relocators, drawn to Leeds by opportunity and prospects, are able to secure good quality rental accommodation close to where they work.

It is inevitable in our view that there will be further growth in both sales and rentals values in Leeds city centre next year, as we continue to catch up with our peer cities such as York, Manchester, Liverpool and Birmingham, and as we get more and more comfortable with the fact that Leeds is fast becoming a city of great meaning and significance.

We are looking forward to working on a number of very exciting new developments including Victoria House, Iron Works, Kirkstall Forge, Tower Works and 53 The Calls, which will provide the next wave of much-needed housing and have very high hopes for Headingley, which is showing strong signs of a return to its glorious past when it was the suburb of choice for aspirational house-holders.

The migration of more and more students to purpose built accommodation in the city centre has created short-term challenges around empty properties and change of use, but this will change in demographic and the area will return to a more equitable and sustainable mix of occupiers, which will in turn fuel a more dynamic and sustainable economy.

Here’s to a happy new year!

the changing face of headingley that’s leading to a chronic shortage of rental property

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HEADINGLEY is experiencing a chronic shortage of rental property as the area continues to transform itself from a student enclave into one of the UK’s best performing areas for property investors.

Our rental portfolio is currently 99% occupied and there is a major shortage of properties available for rent at the moment and there are no signs of that changing anytime soon. We manage one of the largest portfolios of property rented to professionals in North Leeds and have the highest ever occupancy rate, since setting up in Headingley 18 years ago.

As well as record occupancy levels, we have seen a big increase in the amount of time tenants are staying at the same property. Typically, the majority of tenants would look at what the market has to offer after between 8 and 12 months, and many would choose to move. As supply has shrunk however, there are far less options available, and 25% more tenants chose to stay put this year than did during 2015.

I believe that the issue of undersupply could be partially addressed through the conversion of former student properties and HMO’s into properties suitable for letting to the professional market.

It’s only 20 years since the student tidal wave surged beyond its traditional boundaries, into Becketts Park, through Far Headingley and even into West Park. However, an explosion in the delivery of high quality purpose built student accommodation blocks in the city centre, along with ongoing investment in teaching and recreational facilities has had the effect of almost entirely reversing the trend.

Once again, Far Headingley and West Park are almost entirely student-free and Becketts Park is fast returning to owner-occupation, which it was originally designed for and inevitably better suited to.

We have always dealt solely with professional lets, and are the only agency in Headingley that focuses entirely on this sector, so we have a real understanding of what the professional market is looking for.

Over the last year in particular, we have seen a significant increase in the number of vacant student properties, due to some landlords being reticent to invest in developing them for the professional market, with some even leaving them empty in the hope that students will return. Figures from Unipol suggest that there were literally hundreds of empty properties across the area which had formerly been rented to students.

This is a very risky strategy and especially in light of the fact that some sensible investment now will almost certainly secure a professional tenant and a great return.  This is reinforced by the fact that Headingley has just been named as the UK’s top rental hotspot in terms of yields by comparison site TotallyMoney, which revealed that investors buying property in the LS6 postcode, can achieve rental yields of up to 10.79%, which compares to the national average of 3.3%.

As a result, we are encouraging property investors who own student accommodation or those wanting to expand their buy to let portfolios to buy in Headingley and provide more homes for rent – as the demand is certainly there.

It’s clear that the whole fabric of Headingley is also adapting to reflect these changes.  Symbolic of Headingley’s identity crisis is the fact that it took around 10 years for both Pizza Express and Nandos to find a footing, due mainly to local opposition.  It is to Headingley’s detriment that it shunned these archetypally family brands for so long.

At long last, it appears that the continued, and apparently permanent, migration of a large proportion of the student population southwards is spawning a whole new generation of bars and restaurants such as White’s Deli, The Cat’s Pyjamas, Red’s True BBQ, Sebby’s Deli and Head of Steam, who join an array of local stalwarts.

As a result, Headingley, which has often been second-choice for many young professionals behind Chapel Allerton, is fast re-emerging as a popular place for first time renters who want a slightly quieter life than the city centre can offer, or for those looking for a slightly greener and calmer place in which to make home. We believe that this trend will continue and that Headingley will once again become the place to be in North Leeds.