Harrogate-based independent lettings agent R&W Lettings and Property Management is celebrating a successful first year for its Leeds office with the recent letting of the penthouse apartment at Bridgewater Place in the city centre, within a week of it being on the market.
R&W Lettings and Property Management, which specialises in letting and managing properties across Yorkshire, secured a 12 month lease for the apartment last week, seven days after it was first marketed. The two-bedroom apartment on the 30th floor of the landmark building known as the Dalek, covers around 850 sq ft and has underground parking and a concierge service.
Established in Harrogate six years ago by directors Simon Roberts and Guy Wigginton when the pair spotted a gap in the market for a professional lettings agent, they opened the Leeds office at Broad Gate on The Headrow in May last year. During their first year of business in Leeds they have doubled the number of properties they manage in the city, ranging from single flats to houses of multiple occupancy (HMOs) and apartment blocks.
Guy Wigginton, director of R&W Lettings and Property Management, explained:
Opening the Leeds office was a natural progression for us, not only because of the rising popularity of city-centre living but also the increasing confidence in Leeds generally. It’s an exciting time with retail developments like Victoria Gate and new financial and legal businesses being attracted by the city’s vibrant lifestyle, strong education facilities and lower rents compared with the South.
At the moment we’re seeing around 15 prospective tenants apply for every city centre apartment we have on our books, so we’re keen to hear from landlords with properties in Leeds. The urban lifestyle is attractive to a lot of people, particularly young professionals, and flats within walking distance of the city centre and train station are letting within a few days.
John Lund, owner of the penthouse, said:
We always believed Bridgewater Place would be a good investment, especially the penthouse with its fantastic views over the city and high specification accommodation. It’s reassuring to know that it has attracted so much interest and let so quickly – Guy and Simon have done great work in securing a tenancy that provides both a good yield and length of term, avoiding any voids for the foreseeable future.
Simon Roberts, director of R&W Lettings and Property Management, added:
With more than 50 years’ experience between us of the region’s residential property market, we not only understand what tenants are looking for but also how to achieve the best possible returns for landlords. The recent Right to Rent immigration checks have increased costs and put more responsibility onto landlords, squeezing yields and making rental voids even more costly. Given Leeds large international student population, many of whom rent their own individual accommodation, it’s vital that landlords know they have fulfilled their obligations.
Our occupancy rates of around 90 per cent, together with our reputation for providing affordable, reliable management and tenant search services with no hidden costs are proving increasingly attractive to landlords.