Leeds City Council plans to invite formal bids for a multi million pound high rise development opportunity in the city centre. Formerly the International Pool, the one-hectare site is on Lisbon Street, close to Parklane Group’s proposed INC development and the Innovation District. The site has the potential for around half a million square feet of mixed-use commercial and retail space and could include residential units or a hotel.
The council wants the scheme to capitalise on the momentum of the city’s development of Grade A commercial space including at Wellington Place, which will provide for a further 155,000 sq ft of office and retail space when the next phase completes in 2020.
Leeds City Council leader Judith Blake said: “Working with our partners, stakeholders and businesses, Leeds has worked very hard in recent years to provide the ideal conditions to encourage investment in the city, new developments, jobs and learning opportunities as well as the impact of that work, which has seen Leeds create new private sector jobs at a rate faster than any other city in the UK, and we want to continue building on that success through the development of prime sites like Lisbon Street to further boost our economy for the city and all our residents and businesses to benefit from”.
City development director Martin Farrington added: “We are seeing a tremendous number of new schemes, developments and regeneration projects now progressing which is hugely attractive to major organisations looking to invest in our city This Lisbon Street site occupies a prime position among many of he city’s top financial, legal and professional services employers within our core business district which makes it a very desirable space and development opportunity. To meet the growing demand for Grade A office space in the city centre, we are pleased to announce our proposal to invite formal competitive bids for the site here at the world’s largest property conference.
Leeds has a £10bn pipeline of investment including a redevelopment of Leeds Station and the 253 acre South Bank district. It has already delivered Trinity Leeds and Victoria Gate retail schemes, as well as phase one of the Leeds Flood Alleviation Scheme completed in 2017, with ambitions for a £112m second phase to follow.