The 2 Great George Street building will be renovated into 34 one-bedroom, 43 two-bedroom and six three-bedroom apartments – including the city’s first £1million-plus penthouses.
A new-build, three storey glazed extension will be added to the rooftop of the building alongside a communal roof-top garden and winter terrace.
New ground-floor office accommodation will be sub-divided into several units, providing 815m2 in high-quality workspaces for Leeds businesses.
The developer’s contracting arm Priestley Construction has started the initial strip-out of the building with the aim to complete in Q1 2023.
Nathan Priestley, chief executive officer of the Priestley Group, said: “As a Leeds-based business, it’s a privilege to be able to transform one of the city centre’s most ornate historical landmarks and bring it back into use as beautiful new homes and high-specification workspaces.
“Our strong reputation speaks for itself when breathing new life into heritage buildings and we can’t wait to make these ambitious plans a reality.
“Most of the development in Leeds city centre is allocated to student housing and PRS schemes. We believe there is a huge shortage of truly magnificent homes for owner-occupiers that give a taste of individuality and elegance; something that we will set out to deliver at 2 Great George Street.”