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£100million Leeds Regeneration Bid to go Before Government

August 23, 2022

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Article Summary

Leeds
  • The decision to put the bids in front of the government has been agreed by senior members of the council’s decision-making executive board.

  • The newest bids for investment come off the back of other successful Leeds investment submissions.

  • If funding is awarded, the proposals will just be the latest economic success story for Leeds. It is a city that has gone through significant amounts of regeneration in recent years, with huge levels of development work still ongoing.

A bid for a Leeds investment worth over £100million into regenerating various areas of the city are to go in front of the UK government. The investment will improve five West Leeds parks and redevelop Armley Town Street, helping make Leeds an even more attractive place to live, work, visit and invest in property.

Six regeneration projects

The decision to put the bids in front of the government has been agreed by senior members of the council’s decision-making executive board. They will be submitted to the second round of the government’s Levelling Up fund

The Leeds investment bid, named ‘Green, Healthy and Connected’ covers six investment projects. It proposes improvements to Armley, Bramley Falls, Kirkstall Abbey Park, Stanningley and Wortley’s Western Flatts parks. It will also enhance the pedestrian and cycle networks between them.

In addition, Leeds City Council is asking for the Levelling Up fund to fund the local regeneration of the Armley Town Street area.

Building on past success

The newest bids for investment come off the back of other successful Leeds investment submissions. In October 2021, the Pudsey constituency was awarded £20million for infrastructure improvements as part of phase one of the Levelling Up fund. And, in March 2021, Morley secured £24million of investment to regenerate its town centre.

Executive Member for Infrastructure and Climate Councillor Helen Hayden said the ‘very significant investment’ would, if the bids were approved, lead to ‘significant regeneration’.

A city of regeneration

If funding is awarded, the proposals will just be the latest economic success story for Leeds. It is a city that has gone through significant amounts of regeneration in recent years, with huge levels of development work still ongoing.

This has helped the former industrial town to become the city of choice for many people to live and work, continuously increasing residential demand and making Leeds one of the best UK cities to invest in property.

 

What is property investment?

Put simply, property investment is property purchased with the intention of generating financial returns for its buyer. These returns could be in the form of rental income through buy-to-let properties, house price growth through the future sale of the property or both. Property investments can be owned by individuals or organisations and can be short, long or medium term.

 

Get in touch

If you’re interested in buying an investment property in Leeds or investing in property anywhere else in the Leeds region and beyond, contact the experts at North Property Group to find out how.

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