HBD ramps up Leeds investment with Mabgate acquisition

Property developer HBD has acquired 60,000 sq. ft. across two buildings in Leeds’ Mabgate as it ramps up investment in the city.

The developer opened its Leeds office in January. It has since grown its team to eight and has continued to expand its development pipeline across Yorkshire and the North East.

The acquisition will see the complete redevelopment of the two buildings on Mabgate Street, purchased from current owner occupier, Cohen & Wilks.

HBD will work with the Cohen and Wilks team over the coming months as their transition plans get underway.

HBD’s new scheme will benefit from significant ongoing investment into the Mabgate area, which has been a key focus for Leeds City Council. Existing plans include proposals for a new Leeds City College campus – adjacent to HBD’s site, it will provide new education facilities and a sports complex, along with residential development.

Adam Brady, National Head of Regeneration at HBD, said: “This is a great site with massive potential – city centre regeneration is a key focus for HBD, and this scheme will no doubt be the first of many in Leeds.”

Tom Wheldon, Director and Head of HBD’s Leeds office, said: “This is an exciting addition to our Yorkshire development pipeline – Mabgate is a distinctive area with a rich industrial and creative arts history. Given the site’s proximity to Leeds city centre, we identified a great opportunity to complement its vibrant existing community and reposition the mix of uses on the site for the next chapter in Mabgate’s evolution.”

HBD has a diverse UK-wide portfolio, which includes office space and logistics, through to residential innovation and award-winning heritage projects. In addition to its Leeds base, HBD also has offices in Manchester, Birmingham, Sheffield, London, Bristol and Glasgow.