Two high-rise blocks of flats in Keighley will undergo a significant regeneration to attract young professionals to the town.
A young property developer from Nottingham has bought the iconic landmark on Parkwood Rise and has been given the green light to redevelop the block into 190 one and two bed apartments, with a eighteen month project due to start in March 2016.
Leylands House and Delph House dominate the Keighley skyline and boast fantastic views of the Yorkshire countryside, which were illustrated by the Bronte sisters in their books.
The 53-year-old blocks were sold to Arran Bailey, who owns ALB Investments, through Shazad Mahmood at Eddisons and now ALB Investments plans for a positive future.
The sale follows a thorough options appraisal into the future of the blocks by Bradford based Incommunities against a background of a continued fall in demand for the homes.
Managing director at ALB Investments, Arran Bailey, 29, said: “This project will breathe new life into Keighley and we are confident that once the regeneration is complete, it will help the area turn a corner and offer a positive future for the local community and economy.
“The apartments will be high specification and targeted at young professionals to increase footfall to the area and boost the local economy, the apartments have such amazing views of beautiful countryside and it only seemed right to regenerate the blocks to match the surrounding landscape, we are delighted to have the opportunity to carry out this project."
The regeneration will include 95 one-bed apartments and 95 two-bed apartments and the project is being carried out by Leeds based headoffice3, which has designed the changes, handled all of the compliance and is also the main contractor.
CEO at headoffice3, Glen Harding said: “We are delighted to have been chosen as the main contractors for a project that we believe will offer such a fantastic regeneration to the local community.
“We are committed to using local labour and will be working with local companies and agencies to carry out the work to a high standard within the next 18 months to create an environment that will attract young professionals and white-collar commuters to the cities of the Northern Powerhouse."
Associate director at Eddisons, Shazad Mahmood said: “We had a significant amount of interest in both blocks, receiving in excess of ten bids and are delighted to have secured a great result on behalf of our valued client. It has been fantastic to see a developer with such ambition and his plans for the site are fantastic.”
Jez Lester, Incommunities’ Assistant Chief Executive - Asset Management, said: “Having explored all the options this sale provides the most viable way to give the existing blocks a new lease of life.
“ALB’s investment will retain the buildings for modern quality living and offers a significant boost to the town. The sale will also help us to reinvest in our existing stock and continue our work to help meet the growing demand for more new family-sized housing.”
Incommunities has worked closely with residents of both blocks to meet their specific housing needs, help with re-housing and provide every assistance with individual moves. Both blocks are now empty.
For more information, please visit www.albinvestments.co.uk