Tower Works ‘will strengthen digital sector’

THE management team at the redeveloped Tower Works are confident it will help grow the economy rather than just poach businesses from other schemes.

Toby Hyam, managing director at Creative Space Management, told TheBusinessDesk.com the development would further strengthen Leeds as a hub for the creative industries.

Tower Works was a Yorkshire Forward project that was passed to the Government’s Homes and Communities Agency when the regional development agency was closed.

The HCA will retain ownership of the site with Creative Space Management managing the scheme on its behalf.

Mr Hyam said: “Over 50% of the companies that have moved in here have hired a new employee, some of them have hired multiple people. Almost all plan to hire or use more freelancers in their decision to come here.

“Whilst inevitably there are people looking for quality these are ambitious companies moving to more expensive accommodation and they are investing in their staff and growth.”

The development is targeted at creative industries and is 70% let with early occupiers including architects, packaging designers and software businesses.

Its first phase has seen the creation of 18,000 sq ft of grade A office space close to the Round Foundry Media Centre and Marshalls Mill.

Mr Hyam said: “Holbeck Urban Village is a growing cluster. That cluster has the potential to grow further and these businesses value this kind of co-location.”

A search is now underway for developers interested in later phases of the scheme which has planning permission for further office space a well as residential and leisure facilities.

Tenants, councillors and MPs were joined by people who worked at the factory that occupied the site until 1981 for its official opening on Friday.