Leeds – our time to shine

By Phil Gregory, real estate partner at Gateley plc

It seems as 2017 starts to evolve that Leeds is in a key phase of transformation and that this post-recession period as we move towards 2020 could in years to come be viewed as a very important time in the city’s history.

The city is evolving fast.

Gateley Plc opened its Leeds office in January 2012 and as we come to celebrate our 5th anniversary, it seems appropriate to reflect on the changes within the city during this time:

– Trinity Shopping Centre opened its doors in 2013 and instantly transformed the centre of Leeds from a shopping and leisure perspective. The recent completion of Victoria Gate and the opening of John Lewis to the east of the city centre has taken Leeds into the top 3 retail destinations in the country

– Leeds Arena held its first event (Bruce Springsteen) in September 2013 and with it moved the focus of the city to the north, bringing increased footfall and opportunity for development in the northern sector of the city

– More recently the southern entrance to Leeds train station opened, assisting again with the widening of the focus on the city, this time to the south and acting as a catalyst to the proposed regeneration of Holbeck and beyond. In addition over 1,000,000 sq ft of new office space has been developed in recent years.

All of these largely ‘bricks and mortar’ events have brought with them additional investment for others and job opportunities, as well as reshaping the city centre.

As we move forward, this seems like it is only the start. As the country comes to terms with the impact of Brexit, the importance of the regional centre, the move to focus less on London itself and the continued support for the “Northern Power House” with Leeds at its centre only serves to raise the levels of investment in and the relevance of a city like ours.

The Leeds city region economy is now the largest outside of London in the UK (worth over £62bn) and over the coming years Leeds has numerous further opportunities already on the horizon including:- the continued regeneration of Holbeck and the South Bank, one of the largest regeneration schemes in Europe and which will transform the southern part of the city.

– Development of the Innovation District of the city to the north in conjunction with the cities universities and the hospital. The stated aim with this is to form a partnership between these entities to attract new research facilities and development opportunities across the hospital, university and council campuses.

– The evolution of Leeds as a capital of Technology and Data. Leeds has become a hub for the internet and data transfer in the UK particularly the north and has led to it becoming a focus for the digital and technology sectors. This year saw a reported average 47% rise in turnover growth for local companies in this sector.

– Long awaited improvements to the city centre transport infrastructure – the plans for improvements and better accessibility to the current Leeds station and the proposed provision of new train stations at both the Airport and Thorpe Park are now being progressed. In the longer term the delivery of the HS2 line directly into the heart of the city with connectivity to the main line station itself will establish Leeds as one of the key transport hubs of the country.

– The target for delivery of 10,000 new homes to the city centre by 2028 will reignite the centre as an attractive place to live.

– The city’s bid for Capital of Culture in 2023. The Capital of Culture project is known to drive huge interest and investment into the successful city.
All of this activity backs up the Council’s stated intention to see Leeds double in size in coming years. Every part and sector of the city has potential for growth and alongside the push for increased connectivity across the Pennines with Manchester and other areas within the Northern Powerhouse,

Leeds is well placed to thrive in such circumstances in the future… and you never know Leeds United the forgotten giants of English football may (if current form continues) soon be back where it belongs in the Premiership.

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