Gordons Advises on £17m Sale of Converted Mill in Leeds
Wednesday 8th March 2023
Gordons has advised JM Construction on the £17m sale of a converted mill at the Victoria Riverside development in Hunslet, Leeds to global real estate investment and fund management firm, LRC Group.
Comprising 93 apartments, Mill F was the final mill to be sold in a wider project converting a mix of grade II and II* listed former Hunslet and Victoria flax spinning mills to create a new £50m residential site.
Now completed, Victoria Riverside comprises 350 high-quality one, two and three-bedroom units, including penthouse apartments, across six individual buildings.
A team from Gordons, led by partner and head of residential development, Michael Finnett advised JM Construction on the sale.
Commenting on the sale, John Mulleady, managing director at JM Construction: “Victoria Riverside is a development where classic meets contemporary and is truly a landmark scheme for Leeds.
“It was great to work with Gordons on this latest sale. The firm’s effective, practical and straight-talking advice has been instrumental throughout the development’s entire journey.”
Gordons’ partner, Michael Finnett added: “JM Construction is a developer with a strong track record for converting derelict buildings and brownfield sites to create modern housing.
“It is exciting being involved in this award-winning development turning buildings that were once the industrial fabric of Leeds into modern properties without sacrificing their character.”
In 2021, JM Construction received the award for ‘construction specialist of the year’ for the Yorkshire Region in the Local Authority Building Control (LABC) Building Excellence Awards 2021 for Victoria Riverside.
James Smart, managing director of Smart Investment and Management, who acted as agents for the sale, commented: “Victoria Riverside is an opportunity for tenants to live in a historic building with a modern architectural design and excellent location next to the River Aire – a great asset for the purchaser to add to their portfolio,”