The sprawling site of a former Leeds chemical works has been sold off and looks set to be redeveloped.
And hopes are high that a project that could build offices or residential units may also see jobs created on the huge site on Kirkstall Road.
Earlier this week it was announced that Blenheim Developments has bought the 14-acre development site at an estimated cost of around £3m.
Yorkshire Chemical Works used to occupy the site before their closure in January 2006.
After the plant shut down, the site was cleared and since then the land has remained open.
Council planning bosses have already given the green light for the land to be redeveloped.
The site has planning permission for 1.5m sq ft of office space, residential units and a green urban park.
Sheffield-based Peter Burrows, the managing director of Blenheim Developments, said: “Kirkstall Road has an existing planning consent for some amazing development opportunities, although we will be looking to make alterations to some aspects of the original master-plan.
“The property market has changed dramatically over the last few years and the plans, which were first submitted back in 2006 just don’t make commercial sense in this current market.”
Blenheim said the site could be turned into office or residential space.
The Yorkshire Dyeworks and Chemical Company was founded there in 1900.
The company went into liquidation due to competition from abroad.
In August 2006, the site was acquired for £15m by developer Gladedale Group.
Gladedale has now sold the site to Blenheim.
Development of the vacant site is another boost for Kirkstall, where hopes are already high that the Kirkstall Forge development will create thousands of jobs.
As reported in the YEP, approval has been given for a new railway station at Kirkstall Forge paving the way for a £350m regeneration project to begin, creating 2,400 jobs.