Member Article

Leeds City Region’s Building Boom

With work finally underway on Leeds City Centre’s brand new £150 million development, Victoria Gate, the region looks set to have an exciting few years ahead as plans are approved for refurbishment, development and investment all throughout the district. “More investment is going into shopping developments in Leeds and neighbouring areas than any other part of Europe, it has been claimed.“¹ This consistent flooding of investment certainly makes the prospect of buying property in the West Yorkshire region incredibly exciting.

The first phase of the Victoria Gate construction – headed by commercial developers, Hammerson, who currently own and manage Victoria Quarter in Leeds as well – aims to deliver up to 1,000 retail and hospitality jobs and 1,000 construction employment opportunities.²

The development will cover 42,000 square metres of land, providing a large retail and leisure space which will link on to the Victoria Quarter to create a centralised shopping area in the heart of Leeds. “Hammerson believes that the Victoria Gate development will turn Leeds into the third biggest shopping destination in England,“³ and with a total economic output of £55 billion across the whole region, such large amounts of investment will only push this figure higher. Roger Marsh, chairman of Leeds City Region Local Enterprise Partnership, commented saying: “The level of development that is taking place is a clear demonstration of the confidence that investors have in the city region and we’re looking to build on that.“⁴

Wellington Place is also currently under redevelopment, aiming to deliver its vision for high quality workplaces. 10 Wellington Place is the most recent of these buildings to be developed, with an expanse over 10,700 square metres of land, where international law firm, Shulmans, have plans to make Wellington Place their new home.

We have several exciting opportunities located in the West Yorkshire region. For more information, please get in touch with us on 0113 3808930 or email us at info@emergingrealestate.com.

Sources

1, 3 & 4 Yorkshire Evening Post, 2 – Victoria Gate Website, Image Sourced from Victoria Gate Website.

This was posted in Bdaily's Members' News section by ERE Property .