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Leeds Economy Handbook Leeds Property Market

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Leeds Economy Handbook Leeds Property Market LEEDS ECONOMY HANDBOOK August 2016 LEEDS PROPERTY MARKET CONTENTS The Leeds property market Employment land PROPERTY INVESTMENT IN LEEDS: 2006‐2015 Counting only individual property schemes valued at £1m or over, £9.8bn worth of major developments have either been completed, are currently under construction or have been proposed in Leeds in the period 2006 to 2015. Of this total, almost £4.0bn has been completed; £695m are under construction and £5.1bn are proposed or currently on hold. Property schemes valued £1m or more, 2006‐2015, Leeds MD £m Completed Under Proposed/ TOTAL Construction On hold Major Mixed Use* 12 ‐ 1,400 1,412 Office Devts 728 254 1,437 2,419 Retail 572 174 20 765 Leisure 629 54 291 974 City Centre Apartments 924 16 981 1,921 Mfrg/Distribution 306 ‐ 277 583 Other 821 197 695 1,712 Total 3,992 695 5,101 9,786 * The data on office, retail, leisure and apartments is for stand‐alone schemes only. The mixed‐use developments can include significant elements of these. Source : Economic Development, Leeds City Council MAJOR SCHEMES During 2016, the Kirkgate Market refurb and 6 Wellington Place were completed. Currently under construction in the city centre are the hotel on Greek Street, Education campus on Hunslet Road, Ruth Gorse Academy, City House’ Hilton Leeds Arena hotel, Merrion House, 6 Queen Street, 3 Sovereign Square, Victoria Gate, 5 Wellington Place, Central Square on Wellington Street. Outside the city centre are the incinerator on Pontefract Lane and UTC on Hunslet Road. Three city centre schemes over £100m each are proposed or currently on hold: Latitude, Caddick development at Quarry Hill, Temple Quarter and Wellington Place. Outside the city centre there were proposals over £100m at City Reach on Kirkstall Road and Kirkstall Forge. Other schemes include the Logic Leeds, Temple Green, Skelton Lake Services in the Aire Valley, Leeds Distribution Park in Garforth and further developments at Thorpe Park and Leeds Valley Park. Major schemes in the city centre SCHEME STATUS COMPRISES Completed (Year completed) Kirkgate Market 2016 £12.3m investment Wellington Place 2016 £40m: B6 100,000 sf; B5 75,000 sf Sovereign Square 2015 £30m 60,000 regional HQ for KPMG City Station Southern 2015 £17m development Entrance Black Bull Street 2015 £17m Leeds College of Building 86,000 sf campus Leeds University 2015 £27m Library on Woodhouse Lane Library Merrion Centre 2014 £13m 88,000 redevelopment First Direct Arena 2013 £60m Arena Trinity Leeds 2013 £350m: retail and leisure development Tower Works 2012 Phase 1: selective demolition and 18,000 sf offices South Parade 2011 £10m 35,750 sf offices at 10 South Parade Leeds University 2010 £12m Leeds University swimming complex Quarry Hill – Northern 2010 £12m Northern Ballet and Phoenix Dance studios Ballet Civic Quarter – Rose 2009 £50m Rose Bowl development by Leeds Beckett University Bowl The Core 2009 £30m retail design and redevelopment Granary Wharf 2009 £70m development by ISIS: 282 apartments in two blocks; hotel; and 32,000 leisure/retail on the ground floor of the three buildings. Toronto Square 2009 90,000 office development Brewery Wharf 2008 £125m development, which includes 531 apartments, 216 bed Jurys Doyle Hotel, leisure and 82,000 sq ft offices. Globe Road –Latitude 2008 Ph 1: 129,000 offices. Red Grand Theatre 2008 £33m redevelopment Headrow – Broad Gate 2008 £40m mixed use: retail, 157,000 offices Leeds Museum 2008 £27m development New Dock 2008 £250m development: 1121 flats, 107,000 offices, 161,000 retail & leisure and multi‐storey carpark. Round Foundry 2008 £32m: offices, workshops, housing and retail. Sweet Street – The 2008 115,000 office building Mint University of Leeds 2008/10 £16m Ziff building; £12m new law building Bridgewater Place 2007 £100m 32‐storey development: 230,000 sq ft offices, 200 apartments; 10,000 sq ft leisure East Street ‐ Gateway 2007 215 bed hotel, 33,000 offices, 550 underground car parking spaces Carriageworks and 2006 Theatre, offices, bars Electric Press City Point 2006 £25m: 62,000 sf on King Street Leeds City Office Park 2006 Phase 3 offices Wellington Place 2006 119,000 sf 2 Wellington Place; 35,000 sf 10 Wellington Place Whitehall Riverside 2006 £120m: Phase 1: £44m 128,000 of offices. Further phases planned City Walk 2005 Estimated £60m: Ph 1 ‐ 60,000 offices, 257 bedroom Bewley's Hotel, 241 apartments. Ph2 ‐ 64,000 offices Albion Street, 2005 £20m development: 94 flats, 6,000 sq ft offices, 28,500 sq ft Cavendish House retail. Lateral 2005 £25m 92,000 offices Brewery Wharf 2005 £125m Brewery Wharf development Riverside West 2003 £10m development comprising 50,000 offices and 58 apartments Whitehall Waterfront 2003 £38m: offices and 193 apartments The Cube 2002 £10m development on Albion Street comprising 84 apartments, 56,400 offices and 1,680 leisure. The Light 2002 £100m development providing a hotel, retail and leisure developments on the Headrow. Whitehall Phase 2 2002 £40m: 80,000 offices, 149 apartments and a 195 bedroom Novotel. Under construction (Completion date) Black Bull Street – Ruth 2016 £28m academy Gorse Academy City House 2015‐17 £10m refurbishment Greek Street 2016 £13m 90 bed hotel Leeds University 2017 £38m Engineering dept refurb; £25m Edward Boyles Library; £17m Students Union; £41m Worsley bldg Merrion House 2018 £30m Refurb 120,000 sf and 50,000 sf new Merrion Hotel 2015‐17 £10m Ibis Hotel Portland Crescent 2016‐17 200 bed Leeds Arena Hilton hotel 6 Queen Street 2016 £30m 75,000 sf offices Sovereign Square 2016 93,000 sf 3 Sovereign Square. Victoria Gate 2016 Phase 1: £165m 390,000 retail & leisure Wellington Street – 2016 £96m 202,000 sf offices; 19,000 leisure Central Square Whitehall Riverside 2017 £10m 136 bed Premier Inn Proposed (PP – planning permission) Bingley Street PP 2014 Offices and 90 bed hotel Black Bull Street – data PP 2013 £43m data centre centre Black Bull St – Leeds Proposed New 5200 sm building extension College of Building Bridge St/ Gower St/ PP 2011 780 apartments, 182‐bed hotel, retail and leisure by Lunar Regent St PREAPP/15/00782 Properties The Calls PP 2015 77 apartments and 17,000 commercial Warehouse Hill City Island PP 2004 Ph 3 ‐ 219,000 sq ft offices City Square House PP 2011 £50m: 170,000 offices Latitude Blue PP 2010 Latitude Blue 115,000 sf offices; Preapp for 200,000 sf offices adj No 1 Latitude Yellow Preapp £70m 157k sf offices Leeds Beckett Proposed £75m capital schemes over next 3 years University Leeds City Office Park Preapp 14,950 sm offices Leeds City Station Proposed £100m masterplan LGI Proposed £200m masterplan for LGI Leeds University Proposed £10m healthcare & bioscience HQ; £40m Enterprise Hub; £22m engineering dept refurb; £87m science & computing building Marshall Mills Outline PP 2005 240 flats, 129,000 sq ft offices, hotel and gym by Igloo Regeneration Merrion Way PP 2013 Casino extension and serviced apartments New Dock PP 2014 Office reconfiguration and public realm Portland Way PP 2012 178 bed hotel Quarry Hill Outline application £150m mixed‐use development :100,000 offices, 42,000 sf Caddick development leisure, apartments and multi‐storey car park Quarry Hill – Leeds PP 2009 £70m: hotel and leisure Property development Quarry Hill – Leeds City Preapp New development College Round Foundry – Green Proposed 27,600 sf offices Building Sweet Street ‐ Burberry Proposed £50m Burberry factory 10‐11 Sweet Street Outline PP 2010 £30m: 87,000 offices, gym & car parking Sweet Street/ Siddall Preapp 120,000 sf offices Street Sweet Street Outline PP 2014 100,000 sf offices by Oakapple Temple Quarter PREAPP/15/00955 £350m mixed use development by CEG at Holbeck Urban Village Tower Works PP 2016 £80m Phase 2 100,000 offices, 8,000 retail/leisure and 150 homes Town Hall Proposed £10m refurbishment Victoria Gate Preapp £500m phase 2 Wellington Place PP 2010 110,000 sf at 3 Wellington Place Wellington Place Outline PP 2004 Other phases: £450m development: offices, 530 flats, hotel, 1.8m offices. West Yorkshire Proposed £14m refurb Playhouse Westgate Pre‐planning £60m: 300,000 offices, 200 flats. Being reconfigured International pool site Whitehall Riverside PP 2015 105,000 sf offices between No 1 and Whitehall Road Whitehall Riverside Outline PP 2013 200,000 sf 2 Whitehall Riverside; 115,000 sf 3 W R; 85,000 sf 7 Whitehall Road; 524 space carpark Whitehall Road PP 2011 29‐storey 194 flats between canal and railway line Source: Economic Development, Leeds City Council (August 2016) Schemes outside the city centre SCHEME STATUS COMPRISES Completed Kirkstall, Bridge Road Complete 2015 £40m 120,000 retail development Elland Road Completed 2014 £35m: 110,000 police headquarters Headingley Carnegie Completed 2010 £21m pavilion Pavilion Holt Park Completed 2013 £27m leisure and social care centre Leeds Valley Park Completed 120,000 sf ph 1; 140,000 sf ph 2 2003/06 Pontefract Lane Completed 2016 £150m Incinerator Under construction UTC, Hunslet Road Complete 2016 £11m UTC on Braime’s site Proposed Blenheim Walk – Leeds PP 2016 62,250 sf expansion College of Art City West Phased Offices, hotel development East Street/ Planning £40m: 185 flats and 27,000 offices Bow Street permission 2005 East Street ‐ Echo Planning 70,000 offices permission 2007 Elland Road Planning 1,000 seater ice rink permission 2013 Garforth, Aberford Outline permission 94,380 sm employment use Road 2014 Gildersome Outline permission 11,700 sm industrial on Wakefield Road 2014 Hunslet Road ‐ Braime Proposed Development potential: residential, offices and leisure Headingley Cricket Proposed £28m north/south stand Kirkstall Forge Outline planning £390m: 10‐year development on 58 acre site. Includes 178,000 permission 2007 offices Kirkstall Road Outline planning Former Yorkshire Chemicals site: 340,000 offices, 1424 flats & City Reach permission 2011 35,000 sq ft commercial use Leeds Distribution Park, Planning £80m 750,000 sq ft distribution centre adjacent to Junction 47 Garforth permission 2009 of the M1 Leeds Valley Park Planning Ph3 120,000 .
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