Property Sale of Holbeck Urban Village Development Site


A high street bank, recognising Eddisons’ longstanding expertise in business support and recovery situations, instructed us to undertake a significant development site disposal involving a substantial bank debt.

This 5.85 acre site on the outskirts of Leeds City Centre consisted of a 45,000 sq ft tenanted industrial building and cleared land containing 750 car parking spaces. There were a variety of complex issues attached to the site including enforcement notices served on the car park for which there was no planning consent and a lease on the whole property to a connected company who collected all of the income.


Eddisons ensured that the overriding lease was forfeited and employed a dedicated member of staff to manage the 750 car parking spaces in-house to reduce the bank’s costs and ensure control. Also obtaining temporary planning consent for car parking to protect significant income.

We agreed a lease renewal for the industrial tenant on favourable terms to permit development if required and obtained detailed planning consent for a mixed use scheme including residential, hotel and office. With consents in place and a long term tenant secured the site became a much more feasible and attractive proposition for Eddisons to market for sale.


Significantly increased the value of the building and achieved £6m from the sale of the property as a single lot (£4m higher than previous bank valuations). We were also able to secure in excess of £1.5m of income from the car park and industrial tenant which funded the planning process and meant no additional funds were required from the bank.

“The effort and commitment of our staff resulted in a highly successful sale for our clients.”

Richard Roe
Senior Partner