The investment and development company, Town Centre Securities has been hired to develop a £20m scheme in Leeds City Centre.
Based in Leeds, the firm was selected by Leeds City Council to implement a new scheme in George Street, Leeds. With a value of £20m, work on the site is due to begin in the first quarter of 2019 and be completed in 2020.
Consisting of a single, newly centred building with roughly 117 separate aparthotel units as well as nine ground floor units which will serve a variety of purposes, including retailing, restaurants, cafes, bars or takeaways.
Edward Ziff, Chairman and Chief executive at Town Centre Securities commented: “Leeds has seen an influx of visitors and businesses and we are delighted to have secured this scheme to deliver additional accommodation capacity in this sought-after location. We are delighted to be working with Leeds City Council and apart hotel operators and are confident this scheme will further enhance the regeneration of this area of Leeds.
“Our development programme, which focuses on both creating and improving investment properties from within our portfolio, and seeking new opportunities such as this one, offers considerable potential for value creation. The programme continues to progress well and is expected to drive increases in rental income and capital value in our portfolio.”