Leeds City Centre Site Set For Major Transformation

A prime site in the centre of Leeds is set to be transformed in a £1 billion project after its purchase was completed for £26 million.

The Joint venture of A Khalbros and Torsion Group secured the Templar Street assets owned by Hammersons, with plans now afoot to transform the site, known as the Eastgate Quarter, into a mixed-use, residential-led prestige development.

Substantial quantities of construction materials will be needed as the project takes shape. Hospitality, leisure and lifestyle elements will be included in the scheme, with the site being located close to the Headrow, West Yorkshire Play House, The Grand Theatre, Leeds Bus Station and the main central shopping district.

It represents a significant amendment of the original plans for the site, which had envisaged an exclusively residential development.

Torsion Group CEO Dan Spencer said: “The opportunity to help create a new neighbourhood in such a pivotal part of the city centre is incredibly exciting.”

This view was shared by joint managing director of Khalbros David Khalastchi, who remarked: “Eastgate Quarter is a once-in-a-generation opportunity to reshape one of the most strategically located city centre sites in the UK.”

He added that as both his company and Torsion are based in Leeds, the focus of both has been about creating the “Leeds of the future”.

The prime location of the development may be particularly significant in making it an attractive place for work and leisure in the city, not least as it may also be very close to the planned tram system for West Yorkshire.

Among the options for the east side of the city centre, where the Eastgate Quarter will be situated, is the possible L4 line route option, which would run down the Headrow. A consultation last year found that 55 per cent of respondents would either support or ‘tend to support’ this possibility, although other route options saw higher support levels.