New £20m retail hub for Leeds city centre

CITY LIVING: An impression of the proposed �20m scheme that will rejuvenate the George Street area of Leeds', which is 'adjacent to the new Victoria Gate shopping centre and the market.
CITY LIVING: An impression of the proposed �20m scheme that will rejuvenate the George Street area of Leeds', which is 'adjacent to the new Victoria Gate shopping centre and the market.
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Property developer ​Town Centre Securities has been selected by Leeds City Council to develop a major new ​£20m ​scheme ​o​n George Street, Leeds​, which is ​adjacent to the new Victoria Gate shopping centre and the central market in Leeds city centre. ​

​​The development will consist of a newly constructed building containing 117 separate aparthotel units a​nd nine ground floor units for a range of commercial uses including retail, ​cafes, restaurants, bars ​and ​takeaways.

The development will be a partnership between TCS and Leeds City Council, with the ​c​ouncil acquiring a 50​ per cent​ ownership of the completed development.​

​W​ork on site is due to ​start ​in the ​first quarter ​of ​2019 with completion ​due ​in 2020.

The aparthotel’s units ​will consist of 82 studios, 31 one-bedroom and four two-bedroom units.

Edward Ziff, ​c​hairman and ​c​hief executive ​of​ Town Centre Securities​, said:​ ​“Leeds has seen an influx of visitors and businesses and we are delighted to have secured this scheme to deliver additional accommodation capacity in this sought-after location. We are delighted to be working with Leeds City Council and apart hotel operators and are confident this scheme will further enhance the regeneration of this area of Leeds.”

Analyst ​Kieran Lee​ ​​at Liberum said: “​​For Town Centre Securities this represents another good deal and a positive continuation of the Leeds Council relationship.​“

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