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Leeds City Square
The regeneration of Leeds City Square is expected to complete in 2023, to coincide with the city’s Year of Culture 2023. Cities of Culture usually benefit from an increase in tourism and investment, as was the case with the former City of Culture Hull. Therefore, Leeds city council are aiming for the redevelopment to be of the highest quality. The city is actively pursuing new ways to increase connectivity in the city centre with plans forwarded for Leeds Innovation Arc.
Additionally, the city is reducing carbon emissions in the city significantly, aligning with the goal of reaching net zero carbon emissions. The transformation will see improved connectivity and walkability in central Leeds. This improves the connectivity for both pedestrians and drivers, as roads will be diverted to less congested areas and footpaths will be improved.
Leeds has recently announced plans to create their 20-minute neighbourhoods, based on the 15-minute city concept. This will see regions of the city’s suburbs become more accessible to pedestrians and cyclists. The plans will reduce congestion in the city centre by increasing amenities available to residents outside of the city centre.
Leeds Train Station
Leeds train station recently completed on £161m transformation, improving the infrastructure of the station. This was vital as the station has a footfall of 28 million, making it one of Northern England’s busiest transport hubs. Therefore, additional transformations have been approved. These plans aim to introduce new platforms including space for the HS2 phase 2b line and northern power rail better known as NPR. This will increase connectivity across the UK with Leeds, which will have huge benefits for the residents of Leeds.
Part of the Leeds integrated station plans include 300,000m2 of new commercial, residential and leisure spaces. Additionally, the surrounding area, including Neville Street will be transformed. This will include an entirely new retail section and leisure activities. The expansion looks to create a better hub for professionals travelling through Leeds, with the city aiming to accommodate double the footfall by 2050. Finally, the plan aims to create 8,000 new homes and up to 35,000 new jobs.
Increased connectivity is a huge benefit for potential tenants in any major UK city. Leeds currently offers direct transport to London, Manchester, and Birmingham. This makes it one of the UK’s best-connected cities. Therefore, people who travel for business or pleasure regularly are able to benefit from these strong transport connections. Whilst, this is great for workers, opportunities are still plentiful for Leeds, as a growing business hub.
Leeds is a great place for investors to consider for their next property investment, as a growing northern city. The city council is investing in all of the right areas and has carefully laid out plans for future growth. Therefore, the potential for growth in Leeds is limitless. The city has already seen incredibly strong year-on-year growth in property prices. Once regeneration plans near completion, property prices are expected to continue to climb, as more jobs are created.
The LEEDS2023 Year of Culture movement has brought more tourism to the area, and this has allowed for increased investment in services. Additionally, the quality of life for residents is improving, as the city increases its retention of residents. Plans to regenerate Leeds City Square and the train station only further the city’s efforts to become a thriving business hub.
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