Blenheim Developments have purchased the 14 acre development site on Kirkstall Road for circa £3million. This will add to the company’s growing portfolio of new developments, purchased over the last few months.
The Yorkshire Chemical Works closed in January 2006, the site was cleared and it has remained open land. The site currently has planning permission for circa 1.5million sq. ft. of office space, residential units and a green urban park, however, Blenheim are looking to re-submit planning permission to adjust the original master-plan to fit in with the current property market.
Sheffield based Peter Burrows is at the helm of Blenheim Developments. Peter said: “Kirkstall Road has an existing planning consent to some amazing development opportunities, although we will be looking to make alterations to some aspects of the original master-plan.”
Peter Continued: “The property market has changed dramatically over the last few years and the plans, which were first submitted back in 2006 just don’t make commercial sense in this current market. We do want to stick to the original principles of the plans where possible but make them work in today’s market.”
The Yorkshire Dyeworks and Chemical Company was founded in 1900, with the merger of eleven smaller companies. Due to competition from the Asian market, the company went into liquidation and the factory was demolished in 2007. In August 2006, the site was acquired for £15million by developers Gladedale Group.
Blenheim are still open-minded at this stage to the final development plans for the site on Kirkstall Road. Some ideas for the mixed-use scheme include commercial office space, retail, leisure and residential opportunities.
Savills, Leeds purchased the site on behalf of Blenheim and are retained to market the scheme.
David Aspland, Development Director at Savills said: “No other site in Leeds can boast such a unique position, the site has frontage from both the Leeds Liverpool Canal and the River Aire.”
David continued: “This site has great potential and it took a developer like Blenheim to commit to the opportunity. Although the current master-plan is commercially challenging in this market, the potential and location of the site make this an exciting opportunity to be involved in.”
Blenheim are currently talking to a number of potential occupiers and even looking into the potential of working in a joint venture.