Creating the environment for growth in Leeds

The Leeds city region offers the scale, diversity and conditions in which business can flourish

Leeds is one of the UK’s most dynamic cities and is successfully positioning itself among Europe’s best locations for business and investment. For the second year running, Leeds office market has been named as offering best value for money in Europe, and Leeds achieved its highest ranking to date in the European Cities Monitor, the leading index of business competitiveness published by Cushman & Wakefield.

Recent completions at Broad Gate, Toronto Square, The Mint and the Latitude Red development have added 480,000 sq ft of grade A space to Leeds office portfolio and will ensure Leeds continues to offer first-class choice and value as a corporate and regional headquarters location. The past 12 months has seen a visible slowdown in levels of development activity across the UK. However, the news that MEPC and Munroe K plan to forge ahead with speculative development of new office space at Wellington Place and White Rose Office Park in Leeds demonstrates the high levels of confidence in Leeds as a long-term investment proposition.

Indeed, Leeds continues to be transformed by major investments projects, with over £7 billion worth of major developments currently under construction and in the development pipeline.

Redevelopment of the canal basin at Granary Wharf is now complete and work is about to begin on the redevelopment of the historic Tower Works site. Both are key sites within Holbeck Urban Village, a fast developing business and residential location, close to the city of Leeds. The universities are also investing heavily in the city, with completion of the Rose Bowl and the award-winning Broadcasting Place representing significant additions to the Leeds skyline.

Confidence is also returning to Leeds retail sector, which remains central to the Leeds offer. Following recent signings, work is expected to recommence on the £650 million Trinity Leeds development later this year. It involves the redevelopment of over one million sq ft of retail space in the prime shopping quarter and will underscore the position of Leeds as one of the country’s leading shopping destinations. The announcement of a 50,000 sq ft deal with NEXT plc has moved developer Land Securities closer to the pre-let threshold that will give the green light for development work to begin.

Funding and planning permission is already in place for the Leeds Arena and design work is now at an advanced stage for the 13,500-seat entertainment venue. The Leeds arena is scheduled for completion by the end of 2012 and will provide a major boost for the profile and economy of Leeds and the wider city region. With a population approaching three million, a work force of 1.5 million and a business base of over 100,000 companies, the Leeds city region has the critical mass to compete on an international stage with other major European business centers.

But Leeds doesn’t just offer the scale and diversity that is attractive to business. Just as important is the unique partnership in which local, regional and national government agencies are working together to spearhead new ways of driving economic development and regeneration. By bringing together the relevant national and regional decision-makers, the Leeds city region partnership will be able to effectively “join up” separate funding streams and initiatives to ensure they achieve maximum impact.

Right now, the partnership is working with central government to develop a programme of devolved powers and decision-making in key areas of the economy. These include housing-led regeneration, encouraging innovation across all sectors, developing higher-level workforce skills and a co-ordinated approach to transport investment and infrastructure across the Leeds city region.

The long-term aim is to ensure we create and sustain the conditions for a better business environment in which enterprise can flourish and Leeds economy can grow.

For more Leeds information, contact:
Tel: +44 113 220 6350
E-mail: info@locateinleeds.co.uk
Website: www.locateinleeds.co.uk

back