Addington sells Headingley Park, Leeds for £27.65 million

Addington has been working with its current partner since 2018 during which time the final two buildings on the site: Park House and more recently Stockdale House (completed in September 2024) have been converted from offices into residential blocks for rent.  The whole estate now comprises a stabilised 222-unit residential build to rent scheme across five buildings, all set within a c.5.9-acre parkland site. The scheme provides a good mix of housing with 43 studio, 143 x 1-bedroom and 36 x 2-bedroom apartments providing a gross income when fully let of £2.72 million pa.

Onsite property management company AddLiving, Addington’s sister PM company, has been retained to continue to manage the estate by the new owners.

The Headingley Park development has proved attractive to young professionals and post graduate students in Leeds, due to being close to the City Centre and the University  and its large parkland setting. The scheme has parking and electric charging points. The scheme has a residents’ lounge, co working area and large landscaped gardens and in 2024 was ranked as the best place to live in Leeds by HomeViews.

The sale was facilitated by the Residential Investment team of global property consultancy Knight Frank, who were appointed by Addington to market the scheme in summer 2024.

Martin Roberts, Principal at Addington said, “Addington has asset managed Headingley Park since 2014 and we are proud to have created homes for Leeds thriving young professionals out of redundant office accommodation. The scheme has been a success and is an exemplar for Permitted Development conversion of offices to residential and we believe should be a road map for future schemes.”

Harrison Collins, Partner in Residential Investment team at Knight Frank said: “The sale of Headingley Park presented a rare opportunity to acquire a substantial, high-quality residential portfolio in one of the UK's fastest-growing cities. Its combination of strong yields, community focus, and sustainability features made it an attractive proposition for investors seeking to capitalise on the thriving Leeds market. It was a pleasure to act on behalf of Addington and we look forward to seeing the site prosper under the new buyer.”