We are proud to welcome Marygate House in Wakefield to our growing portfolio of residential developments across Yorkshire.
In a joint venture with DI Properties, we purchased the site for £650k, with funding from Together Finance.
Marygate House comes with permitted development rights to convert the upper floors of the four-storey building into residential units.
In all, we plan to construct a new storey and create 36 high-specification apartments for rent.
Retained solely for private rent, the Priestley Group and DI Properties will jointly manage the 36 apartments.
This £3 million residential development will set a new standard of rented accommodation for local people.
As usual, all apartments will benefit from the highest specification finishes. So, residents can expect luxury furnishings in an open-plan living area, large windows, spacious bathrooms, and high-speed fibre broadband.
The existing ground-floor retail spaces will remain, and we aim to design a new street scene. We will invest in upgrading the shop fronts and canopies to improve kerb appeal.
Overall, the transformation of Marygate House will create a thriving mixed-use scheme in the heart of Wakefield city centre.
A planning application is with Wakefield Council for approval, with a decision due in Q3 2021. Our contractor, Priestley Construction, will then begin work on a 12-month build programme in Q4 2021.
Wakefield – a city on the rise
Located in Wakefield’s main shopping district, Marygate House is a 1970s commercial block close to the town’s historic Civic Quarter.
This area is subject to major regeneration plans backed by Wakefield Council – and Marygate House will play a huge role.
The location is ideal for commuters, with Westgate rail station is a five-mute walk away, for easy travel into Leeds.
Our chief executive, Nathan Priestley, said: “As a Yorkshire-based business, we continue to see the huge potential in our smaller towns and cities, such as Wakefield.
“Wakefield is a city on the rise, driven by a council that is committed to bringing its ambitious regeneration plans to life. Just look at the scale of redevelopment in the Civic Quarter and the transformation of Rutland Mills into Tileyard North.
“The confidence in the city is peaking. We can’t wait to give Marygate House the jolt it desperately needs.
“We deliver these kinds of quality residential developments across the North and London. Marygate House will drive interest in urban living in Wakefield; supporting the local economy and businesses for years to come.”