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TODAY'S OTHER NEWS

Plans submitted for a new BTR development in Leeds

A planning application has been submitted by DPP for a Build to Rent scheme at Flax Place in Leeds, on behalf of Galliford Try Investments.

The application, which relates to land off Flax Place to the east of Leeds city centre, will see the creation of two tower buildings of 15 and 11 storeys respectively, which together will feature 350 new flats, each with home-working facilities.

Michelle Davies, director of DPP, said: “The addition of dedicated home working facilities in the apartments is becoming an established part of city centre developments of this nature, reflecting the changing trends towards flexible working, particularly in light of the pandemic situation.”

With the towers connected at lower ground floor level by a reception, the scheme will also feature shared amenity space facing on to an external courtyard for residents’ use.

Davies commented: “We are delighted to work with Galliford Try Investments on this key regeneration site within Leeds.

“Our historical involvement in the site and local knowledge of Leeds meant that we were able to fully understand the constraints and opportunities and provided advice throughout the pre-application process to result in an attractive and sustainable proposal.”

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    i can see btr going badly wrong

    i assume tax breaks?

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    I agree. It's the new timeshare scam just waiting on the gullible investors, having already fooled the gullible politicians. Such tower block ghettos are also ideal virus incubators - just look at Melbourne!

     
  • Paul Barrett

    They must have extreme confidence that rent controls will never be introduced.
    I lack such confidence.

    Still best of luck to them.
    These supposed corporate LL are allegedly able to provide a far superior business proposition than the small LL.
    I'm not so sure!

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    They will end up like so many retail organisations, spending a lot of money telling you how good and cheap they are. Some of those retailers are failing now and closing shops because they were unable to see beyond the end of the £ sign. Many tenants will rent them and the more astute ones will probably still go for the PRS LL.

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    I think this is great news. This place will end up working as a HA housing 350 tenancies at lower rents. Lots of stipulations regimented rules Keep em all together. Then when they get hitched, partner gets pregnant & living in a box drives them mad a 2 up 2 down with a little garden & dedicated easy parking will be seen as premium obviously at a higher cost to rent. Of course the HA will have to provide a reference for rental payments & if a tenant didnt make those payments without arrears then......
    Of course BTR companies will petition the government for special rules ie Rent control compared to BTL LL

    Paul Barrett

    Govt will need to make exemptions
    They need the bungs to Conservative Party funds!

     
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    Building more Flats clearly not required, too many already, where are the people living now, Concrete Frame high rise to maximize profit for big Developer & freeze out traditional LL's.
    The Stamp Duty Holiday cuts no ice with me, why can't we be treated the same as everyone else, its still a huge amount, so if you buy a Flat in Acton probably £500k you certainly won't get a house for it. So called SD holiday still £15k up front + other costs that's your first years income gone assuming you get it with so much rent arrears. Where do you get the the money to service the loan on the purchase as its already gone, suppose you are in trouble after a year & have to sell the new buyer is going to knock you for the SD again because he'll have to pay it again, that will be double you lost (30k) just like that, forget about capital growth that's history. I remember buying in years gone by, no SD on 125k then i% on next 125k then 3% on next 250k, still a fraction of the £15'000k favour they are supposed to be giving us now, no thanks I will not buy anything whether its £30k or £15k penalty dead money up front.

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    I agree flats are not required, I only own 2 and those are above commercial properties where I own the freehold below, 2 / 3 bed houses are the winners.
    Stamp duty, in all the properties I have purchased over the past 40 yrs I have only ever paid SD once and that was the last one a terraced house in Lowestoft (most easterly town in GB) £74k with a sitting tenant.

     
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