Leeds city region is ‘Europe’s retail leader’

The announcement that work will start next month on the first phase of the Victoria Gate scheme in Leeds which will house the first John Lewis in the city has taken the amount being spent on new shops to £1bn according to figures from Leeds and Partners, the body responsible for attracting investment to the area.

Overall development taking place or “in the pipeline” amounts to £2.5bn.

Roger Marsh, chairman of the Leeds City Region Local Enterprise Partnership, said: “The level of development that is taking place is a clear demonstration of the confidence that investors have in the city region and we’re looking to build on that.

“As our city region partners bring some of the largest city centre regeneration and investment opportunities in Europe to market, the LEP is committed to harnessing the opportunities that MIPIM provides and unlocking the potential the region has to offer.”

Other major retail projects underway include the soon-to-open Vangarde development in York, featuring new Marks & Spencer and John Lewis stores, and the Westfield Broadway shopping centre in Bradford.

The figures were released at the end of the MIPIM international property convention where representatives from the region have been trying to persuade international investors to come to Yorkshire.

Katie Stewart, head of economic development at York Council, said: “This was our second year at MIPIM, following the success of last year’s event and the leads it generated. We have found that York’s unique offer, which combines both the city’s quintessentially English heritage and history with a modern, cutting edge knowledge economy, resonates particularly well with the global market and investors, and we look forward to the opportunities that this year’s event will bring.”