Land Securities is
committed to restart its 750,000 sq ft shopping centre project at Trinity Leeds as the group reported
good progress on lettings and success in selling properties. It said it has
achieved the pre-letting threshold for the Trinity Leeds centre, which is now
43% let and that the construction contract is due to be signed imminently, with
completion due in Spring 2013.
Work on the project originally halted 16 months ago, but since then Land Securities have been working to secure leases in the shopping centre.
The development is already some 47% pre-let or in solicitors' hands
and has attracted new flagship stores for TopShop/TopMan, H&M, River
Island and Next and secured new brands for the city with Hollister and
Cult.
The new retailers will join the existing major stores of
Marks & Spencer, Bhs and Boots.
The £350m project will create up to 1,000 construction jobs
at the peak of its development programme and will employ an estimated
3,000 retail positions upon completion.
Trinity Leeds will transform the shopping zone around Briggate,
Commercial Street, Albion Street and Boar Lane and occupy a prime
position connected to the city's office quarter and main transportation
links. The Leeds Shopping Plaza will be extensively re-modelled to
intergrate within the new shopping and leisure environment.
Councillor Keith Wakefield, chair of the Leeds Initiative, today welcomed the news of a
summer start for work on the Trinity Leeds city centre shopping and
leisure development.
He said:
"This is excellent
news for Leeds, both in terms of the jobs being created and the major
enhancement that the scheme will bring to the city centre and its
shopping and leisure offer.
"With continuing economic uncertainty
affecting regional centres across the country, resumption of work on the
Trinity Leeds development comes as a timely vote of confidence in our
city.
"The scheme will bring welcome opportunities for business
and for local people to gain skills and employment."