A joint venture between Khalbros and Torsion Group has made one of the largest transactions in Yorkshire’s history to regenerate Leeds
The Eastgate Quarter regeneration project will be one of the largest city centre regeneration developments in the UK.
Eastgate Quarter is located in Leeds city centre, near Victoria Gate.
Eastgate Quarter regeneration is just one project for the city
The regeneration project is said to move away from a previous retail-led plan, now opting instead for a residential neighbourhood scheme and more focus on the future and the needs for life in the city.
Recently, Homes England announced that they would be funding another residential scheme in Leeds consisting of 618 apartments over five buildings, with a value of £96.7m.
The development will reach across five acres, including 10,000 sq ft of amenity space, and will be located on Kirkstall Road, within a mile of Leeds City centre.
At the time of the announcement, Nigel Barclay, director of loans at Homes England, said: “As the Government’s housing and regeneration agency, we are committed to working in partnership with organisations in both the public and private sector, to achieve their ambitions and develop much needed new homes across the country.
“The Kirkstall Road Scheme is an excellent example of how the Agency’s Home Building Fund is delivering in priority regeneration locations whilst supporting small and medium house builders, that are crucial to building a diverse and resilient housing sector.”
“The regeneration of Eastgate Quarter represents a major milestone for our city”
Dan Spencer, founder & CEO of Torsion Group, said: “This is a landmark moment not just for our company but for Leeds. The opportunity to help create a new neighbourhood in such a pivotal part of the city centre is incredibly exciting. Eastgate Quarter will stand as a symbol of collaboration and progress.”
David Khalastchi, joint managing director of Khalbros, said: “Eastgate Quarter is a once-in-a-generation opportunity to reshape a strategically located city centre site. Alongside our investors and joint venture partners, we are committed to delivering a transformational scheme. This is about more than development. It is about creating the Leeds of the future, by the people of Leeds.”
Councillor James Lewis, leader of Leeds City Council, said: “The regeneration of Eastgate Quarter represents a major milestone for our city, with this landmark investment unlocking new homes, jobs and commercial space, helping to shape a vibrant, inclusive and sustainable future for Leeds. We look forward to working closely with the joint venture partners to bring their ambitious vision to life”
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