Boost for Leeds' economy as Henry Boot buys buildings in one of Britain's 'coolest neighbourhoods'

Henry Boot PLC has acquired 60,000 sq. ft. across two buildings in Mabgate, Leeds, which is a prime regeneration area in the heart of the city.

This year, the area was named by Condé Nast Traveller as one of the coolest places to live in the UK because of its thriving arts scene.

A number of creative companies are expected to establish operations in Leeds after Channel 4 decided to move to the city.

In a statement, Henry Boot said: "The acquisition by HBD, our property development business, will see the complete redevelopment of the buildings and could add further potential to the group’s urban development and residential capabilities.

"Its location is also of significant benefit to the redevelopment plans, being a short distance to the city’s transportation networks and Leeds City Council identifying Mabgate as a key area of investment.

"Henry Boot continues to prudently seek out new investments to replenish the £1.4bn development pipeline, which is made up of three long-term markets: residential, industrial and logistics, and urban development."

HBD Managing Director, Ed Hutchinson, said: “The buildings have massive potential for urban development, which is a key focus for us. There is significant investment being channelled into Mabgate and we look forward to putting our own plans together to support the wider regeneration programme.”

The Mabgate area became famous in the 19th century as an industrial centre. It has now become a popular place to live and work.