CDL buys £15.4m site in Leeds to build rental housing

Singapore

PROPERTY group City Developments Limited (CDL) has expanded into the UK private rental sector (PRS), with a £15.4 million (S$27.5 million) acquisition of a freehold site in Leeds, from Alpha Real Trust.

This translates to about £80, or S$142 per square foot for the 193,752 sq ft site.

Full planning permission has been obtained for the site, which has a residential net lettable area (NLA) of 386,000 sq ft, and a commercial NLA of about 16,000…