The Changing Face of Leeds

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The Changing Face of Leeds Evolving Cities The changing face of Leeds gva.co.uk Evolving cities The UK’s cities are The Changing Face of Leeds is part of our series of reports looking undergoing a renaissance. at how the UK’s key cities are Large scale place making evolving and the transformational schemes are dramatically change that is occurring, either in improving how they are terms of the scale of regeneration activity or a shift in perception. perceived, making them more desirable places to For each city, we identify the key locations where such change has live and work, and better occurred over the last 10 years, able to attract new people and the major developments that and businesses. continue to deliver it. We then explore the key large scale regeneration opportunities going forward. Leeds today Leeds has historically been Substantial economic growth Kirkgate Market, Thwaites Mill Leeds is now one of the largest stage of a two phase scheme that has been realised through major and the Holbeck area all contribute retail centres in the UK and the will continue to improve the area. an industrial city but today regeneration programs securing greatly to the city’s character. Trinity Leeds development that The traditional city centre on the has one of the most diverse employment growth; public and completed in 2013 is an excellent north of the river will continue to The recent completions of private sector investment; business example of how a city centre can be developed and regenerated economies of the UK’s Central Square and Sovereign and residential population growth be reinvigorated by a large scale over the next 10 years, further major employment centres. Square, both significant commercial and a flourishing city centre. retail scheme. Trinity delivered 1 transforming the location. schemes, delivered a large amount It is the leading financial million sq ft of retail and leisure Like many of the former industrial of Grade A space, 285,000 sq ft of The first section of this report and business services centre space and has acted as a significant powerhouses, Leeds experienced which remains available. In addition identifies the schemes from the catalyst for further investment. outside of London and is a painful decline during Britain’s there is a further 200,000 sq ft of last 10 years that brought about Retail yields in the city centre have industrial slump. Physical speculative space under construction Leeds’ evolution. The scale of the third behind only London compressed gradually since Trinity’s regeneration and redevelopment at 3 Wellington Place and extensive schemes we look at varies, for and Cambridge for fast opening, to 4.75% in Q4 2016, have been vital to Leeds’ recovery redevelopment at City House, which some the size of the project alone compared with 5.75% in Q4 2014. growing firms. and will continue to be integral if has been rebranded as The Platform. would warrant inclusion, others Leeds is to achieve its ambition of More recently the Victoria Gate are smaller but have had a very There is currently an exciting being the ‘Best City in the UK’ by development has opened, delivering significant impact. They have all renaissance in Leeds, fuelled 2030. Its industrial heritage is still almost 500,000 sq ft of further contributed iconic buildings, public by economic growth and very evident today and historic retail and leisure space, anchored spaces and significantly contributed prosperity and the outlook for features such as the Corn Exchange, by the largest John Lewis outside to the changing face of Leeds. the next 10 years is promising. of London. This represents the first A660 Clay Pit Lane A58(M) 2007 – 2017 A64(M) 4 Lovell 1 2 Lovell Park Park Victoria Gate & Trinity Leeds Wellington Place Woodhouse Lane New York Road Park Lane The Headrow Park Park Square Square 3 4 1 Sovereign Square Leeds Arena Wellington Street Leeds Station 2 River Aire 3 Water Lane A61 Meadow Lane Victoria Gate & Trinity Leeds Victoria Gate is a major It had been a long-held ambition A further phase of Victoria Gate will of the Council for the site to be be progressed over the coming years, retail-led development in redeveloped and Hammerson with a likely focus on retail and leisure the north eastern quadrant commenced development in 2013. uses. This could accommodate up to of Leeds city centre. It This 1st phase delivered 500,000 sq ft 1 million sq ft. of retail and casino space, anchored covers approximately 7 Trinity Leeds transformed the city’s by the largest John Lewis in the retail offering when it opened in 2013, hectares of land which UK. The development opened in delivering 1 million sq ft in the form previously consisted of October 2016. of a modern shopping centre, and surface car parks and To complement Victoria Gate, attracting major tenants. It is located under-used buildings. Hammerson acquired the Victoria in the centre of the city’s core retail Quarter in 2014. This is an established area and regenerated the location, luxury shopping arcade, built in the which had become dilapidated and early 20th century. Together the undesirable. Victoria Quarter and Victoria Gate Victoria Gate and Trinity Leeds create a unique shopping destination present a complimentary offering in the north of England with over 100 and together have made Leeds high-end retailers. one of the UK’s top performing The retailer line-up has introduced retail destinations. Trinity provides a major national and international comprehensive range of mainstream, names to the city, in many cases high street brands while Victoria representing their first stores outside Gate offers a distinctive variety of of London. A 50,000 sq ft casino has aspirational and upmarket retailers. also opened within the development, providing a unique attraction for the city and city region. Wellington Place Wellington Place is a major The scheme is developed around The quality and specification of a central square which is focussed space on offer has really raised the on-going mixed-use scheme on the listed Railway Lifting Tower, bar for Leeds and is catering to prime in central Leeds. The site helping to give it character and Grade A office demand in the city covers approximately 22 identity. There is a strong focus from a range of sectors. 6 Wellington acres and when complete on design, with landscaped street Place won Commercial Property of frontages into the surrounding roads Year at the RICS regional awards will create a vibrant new and fluid connections throughout and all the buildings are targeting urban quarter. the scheme. It has a strategically top BREEAM ratings. excellent location, with close Wellington Place will also deliver proximity to Leeds station, the almost 200,000 sq ft of residential A58 and Trinity Leeds. space targeting demand for prime In total the scheme will deliver residential accommodation in the 1.5 million sq ft of commercial, city centre. The scheme’s amenities retail, leisure and residential include a health & fitness club, a accommodation. So far 336,000 sq Crowne Plaza Hotel and a range of ft of office and retail space has been restaurants and bars. Ultimately there completed with a further 106,000 sq will be around 12,000 people living ft office building due for completion in and working at Wellington Place. December 2017. The scheme has been The scheme is managed and very successful so far with significant developed by MEPC and has been pre-let agreements and the 105,850 funded by Canada Pension Plan sq ft 6 Wellington Place being fully Investment Board and Hermes let within a month of completion. Real Estate. MEPC Sovereign Square Sovereign Square is an Sovereign Square has a prime Three Sovereign Square completed location adjacent to Leeds Station in summer last year bringing another on-going commercial and comprises Grade A office 83,500 sq ft of Grade A office space led scheme in Leeds city buildings with landscaped green to the scheme, along with 10,750 sq centre. It has been included space as a focal point. So far One ft of retail. The building was largely because of its significance Sovereign Square has been delivered pre-let to Addleshaw Goddard who and received wide-spread praise took 50,000 sq ft on a 17.5 year lease. for the Leeds office market for its design and specification. Leeds City Council acquired the and its impact on the It is 60,000 sq ft and was pre-let building from Bruntwood Estates entirely to KPMG and now serves location, dramatically and Kier Property for close to £44 as their Yorkshire headquarters million in mid-2016. The purchase increasing density and accommodating around 600 staff. bringing footfall and is strategic from the council as its Two Sovereign Square is the location is ideal to help the council vibrancy to the area. It also remaining development opportunity advance plans to develop the South has an important role in on the site and is currently under Bank and grow the Enterprise Zone. connecting the traditional offer. It does not yet have any planning permission but will be city core to the on-going expected to be a similar height and regeneration of South Bank, size to the existing buildings, although including the proposed with cantilevering, larger floor plates HS2 station. could be achieved at the higher levels. Gurveer Birdi Photography Leeds Arena This is a wide area of The arena has capacity for 13,500 The Merrion House office building people and filled a major gap in the is also being comprehensively on-going regeneration in city’s cultural and leisure offering, it revamped and modernised.
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