Friday 04 December 2020
A few months ago, Leeds City Council secured more than £18m from the Government’s Getting Building Fund to boost economic growth. This funding is in addition to the £52.6m secured by the West Yorkshire Combined Authority, covering Leeds also.
Support for business investment and jobs growth, helping to tackle climate change as well as improving residents’ wellbeing by opening up new walking and cycling routes are some of the major plans.
A few of the plans are outlined below with all works due to be completed by 2022.
City Park is the largest new city centre green space in the UK and will be allocated £8.6m to transform road space in the South Bank area of the city into new green space and improved public realm as part of one of Europe’s largest regeneration programmes. It will enable safe bus, pedestrian and cycling connections through South Bank to an improved public space around the Corn Exchange.
This will double the size of Leeds city centre.
Funding will also support installation of a new River Aire footbridge from Sovereign Square linking the park to Leeds Railway Station. This project will help accelerate new development, with as many as 1,400 homes and 5,000 new jobs expected to follow through related schemes.
Temple Green Park and Ride expansion will be allocated £7.4m to create 400 additional spaces at the facility in east Leeds, helping to reduce air pollution and congestion in the city centre.
Designed to help 175 businesses, create 800 new jobs and safeguard 200 existing jobs, the Business Growth Programme has been allocated £7m funding to help businesses recover and adapt following the lockdown.
The Business Gigabit Voucher Scheme is helping businesses and homes connect to super or ultrafast broadband as well as installing new wireless and 4G/5G networks in community locations. £300,000 will be allocated towards this.
What about recently completed regeneration in Leeds?
Leeds station has had a serious upgrade, and rightly so with Leeds Station being the busiest transport hub in the north of England, currently used by over 100,000 passengers a day with those numbers expected to more than double over the next 30 years.
The station front now stands at eight metres tall and incorporates distinctive gold panels to match the look and feel of the southern entrance. This allows more natural light into the station, working with the new transparent roof to create a brighter and more open concourse.
The work is part of a major year-long project to transform Leeds station, which has also involved the installation of re-aligned ticket barriers, a new transparent roof, and refurbished concourse toilets.
You will have heard that Channel 4 has moved its national head quarters from London into the iconic ‘Majestic’ building in Leeds city centre. This work is now officially completed on the 27,000 sq ft landmark building and has been turned into a stylish seven-storey office block. The works saw the full restoration of the exterior, with sensitive interventions, and the creation of a new atrium and Palm Court space, celebrating the grand entrance and circulation space of the cherished Leeds asset. Majestic previously welcomed film fans, bingo players, ballroom dancers and clubbers over the last 100 years. Hundreds of Channel 4 employees expected to begin moving in just a few months.
Great new buy-to-let investment opportunity in Leeds
With all these plans for Leeds, the city is a buy-to-let investment hotspot. ERE Property has just launched a fabulous new investment development in Leeds city centre.
It is located on the vibrant and historic Kirkstall Road and with completion in March 2021 you can potentially get involved in the Government’s incentive of residential stamp duty paid for.
These apartments are available in a wide variety of styles, ranging from a spacious 1 or 2-bedroom apartment, a stunning duplex apartment or an exclusive 3-bedroom penthouse apartment overlooking the city skyline complete with its very own private terrace.
The development is just a stone’s throw from the heart of Leeds thriving cultural scene, bars and restaurants, together with a diverse range of high street and independent shops.
Prices start from £159,650 with NET yields up to 5.34%.
The new development is the perfect location where everything you need is easily accessible by walking or driving:
University of Leeds – 7 min
Main Shopping Centre – 15 min
Train Station – 15 min
First Direct Arena – 1 mile
1 Beds, 2 Beds & 3 Beds including duplex’s
Prices from £159,650
Net Yields up to 5.34%
Completion predicted March 2021 in time for SDLT discount*
Fully managed by ERE Property
* Completion in March 2021 cannot be guaranteed & therefore we cannot take responsibility if the stamp duty incentive cannot be redeemed
£3,000 reservation fee
80% balance at completion March 2021
You can find out more about this property investment opportunity in Leeds on the ERE website.