Adair Paxton, the Leeds estate agents and property specialists, has been appointed selling agents for 120 freshly-refurbished flats in Concord Street, part of the city’s Northern Quarter. It is targeting investors as well as owner-occupiers.
Full marketing of these flats launched at the start of this year with prices starting from £85,000, with high hopes of increases as the year progresses.
Built over 10 years ago, this development of 171 flats in 2 blocks has undergone a radical and thorough overhaul in the last 2 years. All 120 of Adair Paxton’s client’s flats are being refitted and redecorated to high standards in a rolling programme, now about 60% complete. These have found a ready market at rising rents. Adair Paxton also manages 100 of the flats.
Nicola Thompson, Residential Sales Director, Adair Paxton, says: “These apartments in the increasingly popular Northern Quarter of the city were in desperate need of professional attention. Now, with a thorough renovation, they are set to become a significant element in our portfolio. They offer a real opportunity to investors and owner-occupiers alike, and proving a great showcase for our agency, management and consultancy practises. This new life we have breathed into a moribund scheme has given us enormous satisfaction.”
Helped by their proximity to the University, City Centre and Victoria Gate, occupancy levels have been at 97% even prior to refurbishment, representing excellent investment opportunities.
Nicola continues: “Concord Street is a first-class example of apartments which have been seen as testing and an unattractive investment. Our multi-disciplinary business has successfully overcome many challenging issues, and can now look to a good return in 2018.”
Adair Paxton has also played a major role in the significant upgrading of the common areas comprising the atria, corridors and car parks, and to include money saving LED technology.
The main contractors are McLaughlin & Harvey and the project managers are Hughes McMichael, both based in Belfast.