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    Welcome to Leeds

    Leeds is already known as the unofficial capital of Yorkshire, and there are many plans to keep it evolving! Regeneration in Leeds will transform the city by creating high-quality amenities and infrastructure, making the area more accessible and attractive. Leeds is making use of space, providing housing to try to meet the needs of the ever-growing demand in the city.

    Regeneration in Leeds is a sign of future growth and development. This growth is due to new projects that are improving the city and are likely to attract residents and boost property prices. Likely making Leeds one of the top locations for property investors in 2024.

    Aire Park

    As part of the Leeds South Bank Regeneration project, Aire Park will transform a large, unused part of Leeds city centre around The Tetley when it is completed in 2025. The Meadow Lane section of the park is already complete, and a five-acre section stretching over to Crown Point Road is currently under construction. Developments from Phase One are now completed, while Phase Two is well underway. This project is planned to create 75,000 sq feet of office space and 7,000 sq feet of retail and leisure space. The old Tetley headquarters will be turned into a large residential building, and developers say several historical features in and around the building will remain untouched and will not be moved for the re-development.

    The forecasted plans include a bar and restaurant, which means the cellar of the building will open to the public for the first time in the building’s history. The scheme is part of the wider plan for the redevelopment of the Aire Park area. This scheme will enhance the quality of life of the residents there. Therefore, demand for accommodation in the surrounding areas will inflate because residents will have access to excellent amenities on their doorstep.

    The Tetley building Leeds

    A Railway Regeneration Story

    Leeds Railway Stations

    Connectivity to the centre of Leeds has always been great. However, in other parts of Leeds, it has been an issue. Two new Leeds Railway Stations are soon to open, one at White Rose and the other at Thorpe Park. This will create a better-connected city on a larger scale, making it easier to travel and commute for residents and working professionals.

    These projects will highly benefit many areas, providing new opportunities to people in the local areas. According to the council, these additional stations will boost connectivity, and housing and help with the creation of more jobs within the city. All these factors will boost the need for rental accommodation in the area as more people are drawn to the city.

    Leeds train station

    White Rose Railway Station

    Project 1

    With a cost of £26.5 million, one of the new railway stations is being created between Morley and Cottingley, on the main train route to Manchester through Huddersfield. Near to the White Rose Shopping Centre and the bus station, the train station will provide access to several facilities. It’s expected to be completed in early 2024.

    The new station will effectively replace Cottingley station, which isn’t far but has been identified as the least-used station in Leeds due to the lack of accessibility. As part of this project, there are also plans to create a park-and-ride station, due to be completed in 2025. Upgrading the stations will have a positive impact on the number of people who visit the city to live, work and play!

    white rose

    Thorpe Park Railway Station

    Project 2

    There are also plans to build a new station on the existing Leeds to York section of the train line, between Cross Gates and Garforth. The station would be located within the existing development at Thorpe Park which is made up of offices, commercial areas, and residential areas. The station will be located near the southern end of the East Leeds Orbital Route (ELOR). This is a road linking the Orbital Ring Road at Red Hall to Thorpe Park.

    This scheme is also part of the plan to create a strategic growth area for the city. Thorpe Park Rail Station was approved in late 2021 and is due to be completed in Q2/3 2024. The new transport links will attract many residents and businesses as they make the local areas more accessible and easier to travel to and from.

    building train station

    Leeds
    Urban Village

    Planning permission has been granted for the £185 million Leeds Urban Village project. The development is located close to the new cultural heart of the city, a place that is home to West Yorkshire Playhouse and Great Northern Ballet.

    Outside in the public area, it will include a climbing wall as well as additional space for active play for the community. There will also be a central area attracting many people for events, markets and gatherings. The developers are considering the well-being and health of residents in the design. They plan on making this a desirable new urban neighbourhood and a cultural destination in itself, designed to meet and exceed people’s expectations. It is important to note that the projects mentioned in this article will strengthen the property market in Leeds, providing significant potential for capital growth.

    Playhouse Leeds

    SOYO

    SOYO Leeds is one of the newest projects for regeneration in Leeds, built on the SOuth of YOrk Road. This £300 million project will create a new neighbourhood at the centre of Leeds’s Cultural Quarter. The development is transforming the Headrow and it will sit near to some of the city’s largest and most creative establishments. This includes Leeds Playhouse, Leeds College of Music, BBC Studios and Northern Ballet.

    As part of this project, the new Leeds City College campus and refurbished Leeds Playhouse are now open. The first phase of residential development for New York Square is now completed. The construction of Phase 2 has now begun. SOYO Leeds will encompass modern living, new bars and restaurants, and large green public areas in the city centre. Investors who purchase a property in the city are likely to benefit from long-term capital appreciation. Once completed, the area is expected to experience long-term growth as the neighbourhood develops and thrives, and new businesses are drawn to the city.

    Quarry Hill

    Transforming the City Centre

    The Core

    The Core Shopping Centre on The Headrow will soon be demolished and replaced with three new interconnected buildings. A 9-floor building will be built facing The Headrow, with an 8-floor and a 7-floor building being built behind. Additionally, two new streets will bring together Lands Lane with King Charles Street, including the restoration of the historic King Charles Croft. Once completed, there will be 38,000 square feet of retail and leisure space.

    The redevelopment of The Core will bring new life to the area, by enhancing pedestrian mobility. The Core was previously a busy area of the city centre but has seen a decline in recent years. Therefore, constructing a new area will have a positive impact on the local economy. This is due to the creation of high-quality amenities and improved infrastructure. With the revamping of the area, property prices around the region are likely to increase in value.

    Leeds headrow overview

    Benefits For Investors

    Leeds is one of the UK’s top locations for capital appreciation and rental growth. Around 475,000 people work in Leeds City Centre and 1.9 million together within the Leeds region. Therefore, the need for quality accommodation and excellent connectivity is always growing, which is why regeneration in Leeds is vital. The current population stands at over 800,000, forecast to increase by over 60,000 in the next 4 years!

    Naturally, as more people move into the city rental demand will increase. This will amplify competition between renters, therefore, boosting rents. This is great news for investors who can charge more for their properties and generate higher returns. Approximately 65,000 of the current population are students. Students are in constant need of rental accommodation, and with the city rapidly growing, the demand for houses will only increase.

    Currently, 73% of Leeds is renting, so there is endless investment potential. Over the last 20 years, the population has grown at a rate of 7 times faster than London.  The average rental yield in Leeds is 7.1%, compared to the UK average of 3.53%, leading to higher returns on your investments.

    Leeds is a leading place to invest in property. Investors can capitalise on the transformation of an area, by investing off-plan, during the initial stages of a scheme. Furthermore, investors will benefit from the potential financial gains over the next 5 to 10 years.

    • 475,000

      Workers in Leeds
    • 7.1%

      Average rental yield
    • 65,000

      Students
    • 73%

      of the Leeds population are renting

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