Is this the key to unlock exceptional profit potential?
Leeds is one of the UK’s top economic performers. Its economy is diverse and forward-looking, with a rapidly expanding digital and tech sector. It is a university city, supplying local businesses with a steady and growing stream of highly qualified and knowledgeable graduates. The city is one of the nation’s top tourist destinations, with a fantastic retail offering. All this helps to make Leeds a great place to invest, but it gets even better…
HS2 is coming, and Leeds has a strategy to maximise its benefits to the city. The city’s ‘HS2 Growth Strategy’ may not be the most imaginative of titles, but it is an imaginative plan created to build an exciting future for the city. HS2 has the potential to generate £54 billion growth and 300,000 new jobs in the regional economy.
The key to unlocking this potential is creating the infrastructure needed to support growth. The HS2 Growth strategy delivers this and starts with the massive regeneration strategy on the River Aire.
The regeneration of the South Bank
The South Bank is undergoing huge regeneration. It will double the size of the city centre, with mixed-use developments that deliver 8,000 new homes. It is one of the largest regeneration projects in Europe, with an investment of billions of pounds. By the time the 253 hectares have been redeveloped, it should have created an extra 35,000 new jobs.
Everyone working together
Leeds City Council has worked hard to get all stakeholders on board. It is a full-scale, collaborative venture, focused on the objectives of delivering new businesses, new jobs, new homes and new communities. Partners include landowners, investors, businesses, educational partners, existing occupiers, government, and developers. A huge joint effort, with huge ambitions.
Delivering green space and waterfront living
Redevelopment of the waterfront is delivering an increasingly popular location sought after by residents and businesses. It’s a place where people now walk, jog and cycle. With a Waterfront Enhancement Fund in place, there is money available to fund further leisure activities.
A new city centre park will be developed at the old Tetley Brewery site – a prime location which will also provide almost 1,000 new homes, combined with office and commercial space in the midst of more than three hectares of public parkland.
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New homes and infrastructure
In the last few months, redevelopment has started on several schemes that will enhance the South Bank further and speed up the growth of Leeds city centre. Homes under construction or with planning approved total around 2,500, with developments including Citu’s Climate Innovation District, Legal & General’s Mustard Wharf, and Dandara Living’s Leodis Square scheme. Combined, £210 million is already committed to these investments.
The council is routing financing from several sources to make its ambitious plans become a reality. This includes bidding under the government’s Housing Infrastructure Fund. This will enable investment into new infrastructure to support and deliver improved connectivity to unlock the potential of the city centre, and accelerate growth.
Exciting times ahead
In the next couple of years, the transformation of this area of Leeds will really begin to take shape and become increasingly apparent. Infrastructure projects will enable the South Bank project to accelerate toward the final vision, which includes:
- £500 million transformations of Leeds train station
- The delivery of 8,000 new homes
- A new city park
- 35,000 new jobs
The agreed Masterplan for the South Bank builds on the development and regeneration that has taken place so far since the South Bank Planning Statement was published in 2011.
Of the Masterplan, the council’s executive member for planning Richard Lewis said, “The shared vision for the South Bank is for it to be a place not only for people to live, learn, work, create and spend time but also for it to be a leading economic driver for Leeds and beyond and a place of global significance for business and investors. This step is an important one to help ensure the vision is realised for the benefit of everyone in Leeds and the wider region.”
Exciting times for Leeds are ahead. Massive investment in infrastructure and regeneration. Thousands of jobs created. Thousands of new homes delivered. Plenty of opportunity for profitable property investment.
To find out more and receive an in-depth appraisal of the best property investment opportunities in Leeds, get in touch with Gladfish today.
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