Let’s Talk Leeds: Connecting people, place and opportunity
The launch of the Leeds Economic Vision marks an exciting step forward in turning the city’s bold aspirations into tangible progress. With a £36bn economy that outperforms the UK city average, the Vision suggests it has the potential to grow by a further £20bn over the next decade, creating up to 100,000 new jobs and building on its reputation as a hub for innovation.
Plans for a new mass transit system, alongside other key investments in integrated transport infrastructure in the region, add significant weight to the city region’s opportunity for growth – as does the shortlisting of the South Bank, a regeneration project aiming to double the size of the city centre, for New Town designation. There is huge excitement in the potential of Leeds right now.
But with a 10-year timeframe, the delivery of the Leeds Economic Vision is a long-term plan. Strategy and alignment across the public and private sectors will be essential in driving it forward, ensuring that investment is directed where it is most needed to create the greatest impact for businesses and residents.
Last week, as the UK awaited the outcome of the Chancellor’s Autumn Budget, real estate professionals from across West Yorkshire gathered at the Everyman Cinema for Avison Young’s final Let’s Talk event of the year. Preceded by recent events in Liverpool, Manchester and Cardiff, the series has created an opportunity for sector leaders to come together and reflect on the progress and potential of the UK’s most important regional economic centres – setting the agenda for how we can scale our ambition and deliver growth.
A city region at a turning point
While acknowledging the uncertainty and apprehension surrounding the upcoming Budget announcement later that day, James Pitt, the Leeds office’s regional managing director, addressed the room with a warm welcome, painting a picture of the current economic and real estate landscape and how the city’s Economic Vision provides a bold roadmap for unlocking growth, even against the backdrop of national and global insecurity.
There’s a lot to be optimistic about in the city region. Its appetite for innovation; its growing footprint of leading professional and financial services firms; its world-leading universities – all underpinned by its commitment to large-scale regeneration and investment in transport infrastructure to better connect people to place.
This message was echoed by Lynda Shillaw, speaking as both the Chair of the British Property Federation’s Regional Policy Committee and the CEO of Harworth Group, who detailed West Yorkshire’s vital role in the UK economy.
She highlighted how, with the right focus on unlocking development, attracting investment, and delivering new jobs and homes, the region is well placed to turn economic pressures into growth opportunities. Crucially, this will be driven through the city region’s receipt of devolved powers from central government – with the tools in place to act decisively, invest where it is most needed, and deliver the growth that Greater Manchester’s devolution agreement has achieved.
An insightful panel discussion followed, with Simon Wright, Chief Operating Officer at PEXA UK and Helen Ellerton, Head of Transport Policy at West Yorkshire Combined Authority, joining the conversation to assess the city and wider region’s key strengths and where its biggest opportunities lie.
Transforming complex development sites into engines of economic growth
Speaking as the leader of a strategic land regeneration business operating across over 100 sites nationally, Lynda emphasised the importance of new development in delivering economic opportunity for the region – with two of the firm’s flagship West Yorkshire projects highlighted as real enablers of the growth we need to unlock.
Skelton Grange, a former coalfired power station located south-east of Leeds, represents a critical opportunity for the city region, but it’s a scheme that hasn’t been without its challenges. With complex ground conditions and significant remedial work having been undertaken, the brownfield site has been the subject of long-term investment and partnership working to bring it forward.
Having already attracted major investment from Microsoft and Enfinium, the development is set to deliver £4bn in GVA to the regional economy and it represents a significant moment for West Yorkshire – transforming a historic site into a major hub for energy and technology that will drive investment and create new employment opportunities in growth sectors.
The conversation turned to Gateway 45, the adjacent site, which is being developed into Leeds’s largest logistics and manufacturing scheme, with planning consent already secured. Once safeguarded for the delivery of HS2, but since released, the development is now gathering pace – enabled through close collaboration with local, regional and central government, and partners including National Grid and Northern Powergrid.
It is sites like these that are going to power our industries of the future, allowing West Yorkshire to take its innovation capabilities to the next level, direct further investment into our most important industries, create high-skilled jobs, and attract new occupiers into the region.
The city of choice for innovation
PEXA UK’s Simon Wright detailed what it is about Leeds that makes it such an attractive location for new and scaling businesses, and why PEXA chose Leeds as the home for a previously remote business. With a significant financial and professional services sector and a leading reputation for innovation, Leeds’s appeal comes down to the vibrancy of its business ecosystem.
Known as the “Northern Square Mile” thanks to its powerful concentration of financial, legal, and digital services, and home to the Bank of England’s northern headquarters, the city has created the ideal environment to innovate, attract ambitious businesses, and grow a world-class talent pool. For PEXA UK, being right at the heart of a collaborative community was a key draw.
Leeds continues to strengthen its position as a destination for forward-thinking companies that want to shape the future of their industries. The city’s commitment to collaboration, investment in emerging technologies, and support for entrepreneurial growth ensures that organisations like PEXA UK not only have the resources they need to succeed, but also a community that actively propels them forward.
A connected transport system will be crucial to support this. It’s vital that we ensure job opportunities with longevity and progression aren’t exclusive to the city centre, and that businesses can access a wider talent pool across the region to support their growth. That’s why investment in new infrastructure is fundamental to delivering the city’s Economic Vision.
Investing in transport infrastructure to create a connected city region
As Head of Transport Policy for West Yorkshire Combined Authority, Helen Ellerton provided insight into the huge transport infrastructure plans underway and what this means for the future of Leeds and West Yorkshire.
Leeds is advancing a major transport overhaul, centred on the £2.1 billion mass transit “super-tram” system, linking the city with the wider region, alongside delivering upgrades to Leeds Station and investment in buses, cycling, and active travel routes. Helen spoke passionately about reimagining mobility as the backbone of inclusive growth.
This, of course, is about delivering physical infrastructure to enhance connectivity and enable people to travel with ease across West Yorkshire. But this transformation also lies in empowering people to confidently access and navigate the network. Prices and routes need to be appropriately set, and education is needed to show citizens how to seamlessly navigate their new travel options.
Accessibility was a key theme touched upon in terms of the rollout of the new transport system and how it will connect wider areas to the city centre across different modes of transport. Ellerton highlighted that this is not simply a transport project, but a socio-economic one. By stitching together communities that have historically been disconnected from opportunity, transport upgrades will rebalance growth across the region, improving access to employment.
It’s clear that we’re at a pivotal moment for West Yorkshire and that collaboration will be central to the delivery of the Economic Vision, bringing together infrastructure, housing and regeneration to create the conditions for growth at scale. As these plans progress, the focus will remain on ensuring that every community feels the benefits of this investment, setting the foundation for a more inclusive and connected future.
