Victoria Gate: How a shopping centre transformed Leeds into a world class shopping destination

For savvy property investors, analysing a city’s house price growth is only one factor in making an investment decision. With high house price growth, Leeds has remained an excellent UK investment hotspots, outstripping London since the Brexit vote. The recent development of Victoria Gate, a luxury shopping centre that brought John Lewis to the city, has further proved Leeds’ investment potential.

Leeds’ Victoria Gate is a great platform for the retail brands to expand their portfolios outside London. Here’s why it has been getting investors so excited:

  • The centre has attracted four million visitors since its opening day

  • It was named the world’s Best Shopping Centre at the internationally renowned real estate competition the MIPIM Awards

  • A 255,000 sq ft John Lewis store has opened, representing a £37m investment. Plus it’s one of the biggest John Lewis department stores outside of London

  • Two new rooftop restaurants operated by D&D are poised to open on site shortly including a Japanese restaurant called Issho

  • A New York loft-style bar called East 59th is due to open in the summer

  • A new 50,000 sq ft “super casino” opened early in 2017.

Besides the great economic impact bought by the Victoria Gate, Leeds is also home to the UK headquarters of:

  • Asda Walmart – Supermarket chain

  • Capita – FTSE 100 listed company concerned with business process outsourcing

  • CYBG plc – Major UK banking group

  • First Direct – A subsidiary of HSBC

  • GHD – Global HQ for hair fashion company

  • Jet2.com – Low cost airline

  • Sky plc – Customer care and digital development

  • Sky Betting & Gaming – Betting and gaming company has headquarters in Leeds

  • Yorkshire Television – A subsidiary of ITV plc

Victoria Gate is just one example of how partnership between the public and private sector is at the heart of Leeds’ approach to major regeneration. The effect has been readily seen and felt over the last ten years. Smaller scale initiatives have focused on reinvigorating town and district centres with the aim of realising the city’s ambition to become the best UK city by 2030.