Major development opportunity comes to the market in the ‘West End’ of Leeds
A rare opportunity to purchase and develop a major site in a well-connected and established urban quarter of Leeds city centre is being brought to the market this week.
Formerly the International Pool, the 2.77 acre site at Lisbon Street (owned by Leeds City Council), sits to the west of the city centre and at the heart of the city’s professional core, at the junction of Leeds’ Innovation District and in close proximity to both the traditional business district and award-winning office schemes including Central Square and Wellington Place.
The West End of Leeds is a thriving urban quarter with its proximity to Wellington Place, and neighbouring globally renowned brands like Channel 4 (The Majestic), Burberry (Queen Street) and Reed Smith (Platform) how have all recently located into this area which is already home to big names such as PWC, Sky Bet and the Ministry of Justice.
Councillor Judith Blake, leader of Leeds City Council said:
“Leeds is in the middle of delivering a ten billion-pound investment programme across the city centre and is thriving and consistently attracting exciting new names in a number of sectors.
“We feel it is the right time to release the land and open up this multi million pound development opportunity and therefore further regeneration potential in this key gateway location.
“The opportunity for a developer to acquire a site near a number of big name occupiers will be a real draw. The size and location of this land makes it one of the best connected in the city and we are excited to see what development comes forward.”
Jeff Pearey, lead director at JLL’s Leeds office who is working with the council to market the property said:
“Lisbon Street is a prime site in this thriving quarter of Leeds which has the potential to be redeveloped into a mixed use scheme.
“Businesses such as Link Market Services, Mazars and Reed Smith have more recently located to into the city centre and with Channel 4’s imminent arrival we expect Leeds’ international profile to build on this momentum.”
Leeds city centre is set to double in size in the coming years and broke several construction records in 2018. According to Deloitte’s Crane Survey the construction of 21 new buildings started last year, the highest on record since 2007 illustrating significant developer appetite. Currently, there is over 800,000 sq ft of office accommodation, 2200 residential units and 2700 student bed spaces under construction in the city centre.