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Major Plans for Leeds City Centre Regeneration

July 25, 2016 | Landlord News  

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Second phase plans of a major regeneration scheme call for the construction of 780 new apartments in Leeds city centre, to be built on the former British Gas site, which has lain derelict for years.

The first phase of the project won planning permission last week to transform an existing 12-storey office building and the 2.45-acre site it is part of into a 182-bed boutique hotel complex. The development, off Bridge Street, has been designed to cater for the increasing numbers of visitors brought to the city by the First Direct Arena and Victoria Gate. Construction work is due to begin in spring next year.

majorplansforleedscitycentreregeneration

The apartment complex, if given the green-light by the council, would be spread over five buildings ranging from 11 to 41 storeys, including cafes and creative workspaces, set within green spaces. Developers Heeton Holdings say the location is ideal due to its proximity to the shopping district and the emerging creative quarter centred around Mabgate.

Edwin Liu, Head of the UK branch of Heeton Holdings, said: “We have chosen Leeds for our latest development because of its position at the heart of the Northern Powerhouse economy. Its strengths across the professional, digital and creative industries mean that there is a sustained demand a high quality urban neighbourhood in a city centre location.”

Foreign investment in the Leeds City Region has grown by 87% year on year, pushing Leeds into the top 3 destinations in England for investment.

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