Start for Headingley Park’s final phase

Addington Capital and investment partner ICG have begun the 70-apartment redevelopment of Stockdale House, the largest of the five buildings at the office-to-residential conversion.

Seventy units will be created, adding to the 152 apartments already delivered across the first four buildings.

Addington said that Headingley Park has proved attractive to young professionals and post-graduate students renting in Leeds, due to being close to the city centre and university, in a 6.5-acre parkland setting. Individual buildings provide 30 to 40 units which are predominantly studio, one and two-bedroom apartments. Co-working areas are a feature.

The scheme is managed by AddLiving and has been well received by renters to date, with the completed phases being 100% let and achieving rents of £900 and £1,275 per month for one- and two-bedroom apartments.

Martin Roberts, principal of Addington Capital, said, “We are delighted to be underway with the conversion of Stockdale House. The 70 high quality apartments will have spectacular views across the city and meet the growing need of today’s renters in Leeds.

“The Stockdale House development completes the conversion of Headingley Park from an in-town office park to a 100% residential development. We believe that this is an exemplar for Permitted Development conversion of offices to residential and a road map for future schemes.”

The ground and five upper floors will house apartments at the building, where completion is expected in the third quarter of 2024.

Roberts continued: “Given the falling demand for offices and the increased costs of making those properties energy efficient, we believe a relaxation of the size limit of new PD conversion would be a fast way to increase the supply of much needed residential from brownfield sites with a low embedded carbon solution.”