Addington Capital, the property investment and asset management specialist, has secured permitted development determination to change Stockdale House at Headingley Park, Leeds, from an office block to 70 flats.
The five-storey, 43,000 sq ft building will be Addington’s fifth (and last) office building at Headingley Park to be converted.
The 62 one-bedroom eight two-bed apartments will be targeted at the private rented sector (PRS).
Headingley Park was acquired by Addington in a joint venture in August 2014. It has already redeveloped four of the blocks on the site to PRS use, creating 152 apartments to date.
The PRS scheme is managed by Addington’s Add Living business.
David Dalrymple, partner at Addington Capital, said: “Given current occupation levels, we are expecting demand for the new units at Stockdale House to be high.”
The current commercial tenants have leases expiring in October 2023 giving Addington around 12 months to get the conversion completed.