Property Highlights for 2013: Yorkshire home to major investment in property market
YORKSHIRE has seen significant deals sparking major investment throughout 2013.
Two of the most prominent projects this year have been the opening of Trinity Leeds and the first direct Arena.
Leeds has climbed up the national retail rankings to seventh place, thanks to the opening of the Trinity shopping centre earlier this year, according to Callcredit Information Group’s 2013 RetailVision report and the opening of the arena prompted further investment such as GB Group securing public and private sector funding for a £32m exclusive hotel development at the heart of Leeds city centre – the closest to the newly opened flagship Arena.
Town Centre Securities (TCS) £13m New Front Scheme began to take shape and in October, TCS and Leeds City Council agreed the largest office pre-let deal in the city centre in more than 20 years.
Most recently on the retail front, proposals to expand Leeds’ White Rose Shopping Centre and build a new 12-screen cinema were given the green light by planning chiefs and last month, work finally began on the stalled Westfield shopping centre scheme in Bradford.
In October, HARIBO unveiled plans for a new £92m factory in Castleford, which will create almost 300 jobs in Yorkshire and throughout the year, the office market saw a flurry of investment. Earlier this month the first new build office development in Leeds city centre for more than five years took another step closer to completion as the final brick was laid. A topping out ceremony marked the occasion at Number 10 Wellington Place, the flagship 35,000 sq ft development in Leeds’ West End.
Broadgate became fully-let in October after KPMG completed a deal to take the remaining space in an investment that will see the firm create over 200 roles in a national Innovation and Solutions Centre.
The acquisition of 76,413 sq ft at Broadgate in Leeds for Yorkshire Building Society, brokered by Colliers International in May, was the largest single office transaction in central Leeds for almost 10 years. Jet 2 owner, Dart Group, also agreed terms for 73,100 sq ft at The Mint and KPMG took a pre-let for 61,250 sq ft at Sovereign Square.
TheBusinessDesk.com announced in April that the 27 acre former Terry’s chocolate factory site on Bishopthorpe Road in York was bought for an undisclosed sum by Henry Boot Developments and David Wilson Homes from GHT Developments.
July saw Hull’s 50 acre Bridgehead Business Park, which is said to be the most sustainable in the North of England, officially open. Then later in the year, a new £25m business park in Hull which is hoped will create 500 new jobs was announced. The park, called Kingston Parklands, will be focussed on the renewable energy sector and will further strengthen the Humber region’s recognition as the Energy Estuary.
Sheffield City Council announced in July that it was on the lookout for a new development partner after Hammerson pulled out of the city’s new retail quarter (NRQ) in the city centre. However, in September Hammerson’s Victoria Gate secured planning approval. Thorpe Park also received approval.
In August, a £35m scheme to re-develop the site of the York Press offices was given the go-ahead.
The regeneration of the two-acre site on Walmgate, York, will provide new offices for The Press, student accommodation and create 200 new construction jobs over the next two years and 20 new permanent jobs when completed.
