Riverside Mills is a new award-winning development in Leeds, mixing class with contemporary. Riverside Mills will comprise 74 one-and-two-bedroom apartments and is due to complete in Q4 of 2020. Prices start from £142,500 for a one-bedroom apartment. The development will see the sympathetic restoration of flax spinning mills which will be converted into apartments, adding character and heritage to the development.
Riverside Mills is in the South Bank Regeneration Area. The aim of the regeneration project – dubbed the largest in Europe – is to expand the city centre of Leeds to twice its original size and be the epicentre of upmarket restaurants, cafes and green spaces. Once completed it will be one of the most sought-after destinations in Leeds.
Leeds has the largest regional economy outside of London. It’s also Britain’s fastest-growing city with thriving business communities. Its economy is worth over £18bn per annum and it has grown by around 40% in the last decade. Over 32,000 VAT-registered businesses are based in Leeds and some of its major employers include Asda, First Direct, BT and Direct Line.
These figures are positive indicators for those looking to invest in Leeds itself. It’s clear if business is booming, employees will chase housing in the area surrounding their place of employment. Furthermore, although house prices have been rising, they remain modest in Leeds. This is set to change as it is tipped for being the place for highest house price and rental growth in the UK, with JLL believing house prices on average will grow by 17.1% by 2023.
There has never been a better time to invest in Leeds, and with the right product it is possible to achieve high yields and capital growth.