Investment

A new horizon is emerging in Leeds as major development and investment projects re-shape the city’s skyline.

The distinctive profile of Bridgewater Place, Leeds’ tallest building, can already be seen from miles around. £4.3 billion was invested in major development projects in Leeds over the last decade.

Projects worth a further £306 million are currently under construction and another £6.7 billion worth of investment is in the development pipeline.

Major office developments in the city centre reflect the rapid growth of the financial and business services sector. Companies such as Addleshaw Goddard, PricewaterhouseCoopers, First Direct and BT have demonstrated their confidence in Leeds by investing in new, purpose-built offices.

Total office stock in the city centre stands at nearly 11 million sq ft.

A partnership of leading developers has been formed to redevelop West End Leeds, creating a new business quarter with over 3 million sq ft of prime office space, residential, hotel and leisure space.

On the retail side, major investment programmes have been completed at the Merrion Centre and Broad Gate, the former Allders store. A £30 million refurbishment has recently been completed at The Core, the former Headrow Shopping Centre.

The £650 million Trinity Leeds, opening in 2012, will see the redevelopment of over 1 million sq ft of prime retail space in the city centre. The £800 million Eastgate Quarters, being developed by Hammerson and Town Centre Securities, will create up to 1.25 million sq ft of new retail space.

The scheme is anchored by a 260,000 sq ft store for the John Lewis Partnership. Public sector investment totalling £3 billion has been earmarked for housing, education, healthcare, transport and regeneration schemes. The investment will ensure Leeds has the infrastructure in place to sustain current and projected levels of economic development.

A city centre location has been chosen for the £80 million Leeds arena, scheduled to open in 2012. The 12,500-seat concert and entertainments venue will be a major economic driver and attraction for Leeds and the surrounding city region.

Major investment is taking place in the Quarry Hill area of the city, fast emerging as Leeds’ new cultural quarter. Already home to West Yorkshire Playhouse, Leeds College of Music and the BBC’s regional headquarters, work is almost complete on the new £12 million headquarters for Northern Ballet and Phoenix Dance.

Redevelopment of the waterfront area was spearheaded by the opening of the Royal Armouries, which acted as a catalyst for the £250 million redevelopment of Clarence Dock and the £125 million Brewery Wharf development.

Sports and leisure facilities in Leeds have been enhanced by the £14 million swimming and diving centre at the John Charles Centre for Sport in South Leeds. Investment in cultural facilities has seen the creation of the new £27 million Leeds City Museum and the £31.5 million refurbishment of The Grand Theatre.

Holbeck Urban Village, a new business and residential community to the south of the city centre, is expected to attract up to £800 million worth of investment.

Completion of the £32 million East Leeds Link Road has opened up 250 hectares of development land within the Aire Valley Leeds, one of the largest regeneration areas in the North of England.

[Last update 5/7/10]