As one of the largest initiatives of its kind in Europe, the regeneration of South Bank in Leeds city centre is an exceptional opportunity for astute property investors.
Leeds city centre is thriving. Huge investment has brought thousands of high value, knowledge intensive jobs. The large amount of office accommodation and superb retail offering, together with strong cultural attractions and restaurants, bars and clubs has transformed it into a place to live, work and play. Centre for Cities has ranked it alongside Manchester as the most successful city centre in northern England.
On the southern edge of the city centre, separated by the River Aire, lies South Bank. Already a successful area, the City Council aims to further transform it into an important centre for investment, living, education, culture and leisure.
At over 600 acres, the South Bank Regeneration Zone is huge. The area is synonymous with Leeds' industrial past but is now home to giant companies including Sky and to Asda's head office. However, there still remains large areas of brownfield land and decayed buildings. The City Council foresees bringing these areas back to life, with £500 million invested to date, with much more earmarked.
There is no attempt to simply replicate the look and feel of the existing city centre. This will be a quarter unique in its own right. Major upgrades will include -
Leeds city centre already suffers from a chronic shortage of housing. South Bank will provide 35,000 jobs but just 8,000 new homes. The disparity is glaring - demand for accommodation will be very strong indeed. An excellent opportunity exists for investors, particularly the earlier movers.
In their own words - South Bank, a landmark regeneration project