Adair Paxton, estate agents and property specialist, has sold more than £1 million worth of newly overhauled apartments in Leeds over a four week period. It is selling 120 out of the 171 flats in Concord Street, which is part of the city’s Northern Quarter.
All the 120 flats are being refitted and redecorated in a rolling programme, which is approaching completion, with 60% of it already done. Additionally, Adair Paxton also manages 100 of those flats.
“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,” said Nicola Thompson, residential sales director at Adair Paxton.
“They offer a real opportunity to investors and owner-occupiers alike, and proving a great showcase for our agency, management and consultancy practises. We are delighted we have already realised such a significant sum,” added her.
Due to its proximity to the University, City Centre, and Victoria Gate, the occupancy levels reached 97% even before the refurbishment programme.
“Concord Street is a first-class example of apartments which have been seen as testing and an unattractive investment,” continued Nicola. “Our multidisciplinary business has successfully overcome many challenging issues and now feel fully justified in recognising their potential.”
The main contractor for the project is McLaughlin & Harvey and the project manager is Hughes McMichael, both based in Belfast.