City poised to exploit investment and devolved powers
Leeds has made dramatic economic advances, but will achieve more once devolution and promised transport infrastructure improvements become reality, according to its council chief executive.
Tom Riordan was addressing the annual Deloitte Leeds Crane Survey launch event in the city centre yesterday.
The event was hosted by The Walk, in City Exchange, where Riordan was joined by Andrew Cooper, chief executive officer of Leeds Business Improvement District (BID) and Simon Bedford who leads the local government development team at Deloitte Real Estate.
The launch was staged shortly after the publication of the 2020 Leeds Crane Survey.
Commenting on the city’s progress over the last 10 years, Riordan said: “The fundamentals of the Leeds economy are sound and we have a reputation for delivery.
“We’re not just about pushing things up and getting them built – it’s about quality, carbon impact and social value.
“We now have five universities in Leeds and the work we’ve been doing with them has been a real driver for making the city more attractive. The student population has been moving closer to the city centre, which has really helped with its vibrancy.
“We don’t just want a homogeneous centre with people pushed towards the fringes. We want a mix of people and communities, to avoid the problems of other city centres which have taken a purely economic view of things.”
He said Leeds is now internationally recognised for its world class health, technology and digital sectors, with Leeds-based companies within these industries dedicated to solving world problems.
And he stressed the city has been a “self-starter”, reaching its current position without big subsidies from central government.
“Imagine what level we could reach once we get devolution money coming through,” he said. “I’m very optimistic that we will get a devolution deal sorted this year.
“There’s talk of moving government departments out of London, so think about that in terms of new office development.”
He said the time had come to give Leeds and the surrounding region the decent public transport system it deserves.
“We’ve never had a mass transit scheme in Leeds,” he said. “That’s something which has been mentioned a lot in the elections by the people who’ve won, so I’m looking forward to that being supported by real money.
“And I think we’re missing a massive opportunity if we don’t get HS2 and Northern Powerhouse Rail.
“If we get Northern Powerhouse Rail right that would also unlock Bradford and put it onto the main line. That would be transformational for us – unlocking a labour market which is one of the youngest in Europe.
“I’m strongly of the view that we’ll see a large amount of investment coming into Leeds Railway Station in the next few years. We’re now being heard in Whitehall in a way that wasn’t happening previously.”
Bedford outlined how Leeds’ performance fits in with the wider, national picture.
He noted that the economy of Leeds and other regional UK cities has bucked the trend by consistently outperforming the national average over the last few years.
He said these cities had shown resilience in the face of political turbulence, but would all be affected by the issue of climate change.
“The climate change crisis wasn’t being talked about much in 2018, but 2020 will be the year of climate change,” he added. We shouldn’t underestimate how much influence it will have on the property sector.”
Andrew Cooper
Cooper emphasised that the spaces between the city’s buildings are as important as the properties themselves, in terms of making Leeds an attractive location for residents and workers.
He highlighted the efforts underway to make the River Aire a more central part of the city.
“It’s great to see that the river will no longer be the back door to our city but will be at the heart of it,” he said.
“There is a commitment in our BID business plan to look at how we can support the waterfront.
“We see across the world how other cities have used their waterfronts for interaction with the public realm, and we can do the same here.”
He said encouraging more people to live in the city centre is critical, pointing out how the growth of Leeds’ resident student population has boosted parts of the retail sector.
And he said the fact Leeds is successfully inviting investment from big names in hospitality and property development is key to creating growth, a sense of place and a strong identity for the city.
“The Deloitte report shows Leeds is on the up and we need to tell that story and be excited about it,” he said.
