Trinity go-ahead ‘shows confidence in Leeds’

THE revival of the £590m Trinity Leeds shopping development signals a return of confidence in the city among major retailers despite the uncertain economic outlook.

That is the analysis of property consultants Drivers Jonas Deloitte that provided planning advice for the 750,000 sq ft Land Securities development.

Land Securities have announced that work on the project, the first major retail development outside London since the recession, will start next month with almost half the scheme pre-let.

John Cooper, director from Drivers Jonas Deloitte, said: “Firstly, some of the tenants are moving from existing stores in Leeds to larger flagship stores which is testament to their long-term confidence in the city’s retail sector.

“Secondly, the scheme has attracted new blood to Leeds with clothes outlets like Cult and Hollister eager to get a foothold in the market.

“Trinity will be one of the only major schemes of its kind outside of London to be on site and also one of the biggest private sector backed developments in the pipeline.

“With most banks still reluctant to back big ticket projects, the move owes a great deal to the strength of Land Securities’ balance sheet as well as strong retail interest in Leeds.”

Mr Cooper said the development would bring concrete benefits to the city which would benefit the wider business community and remain competitive with other

UK cities.

“Leeds’ rival cities like Birmingham, Liverpool and Cardiff all have significant new schemes so Trinity will be a massive boost to the city’s own competitiveness.

“The development will also bring back to life a significant site which is at the heart of the City’s shopping quarter and well connected to the office quarter and transport infrastructure of the city centre and link together existing parts of the core area.

“For the city region as a whole, the direct employment at Trinity and spin-off effects both during construction and during the life of the scheme is a major boost.”

Trinity Leeds is due to open in Spring 2013.