With construction on Trinity Leeds scheduled to begin this month, Richard Abbott looks at what impact the retail and leisure development will have on the city.
Property developers and agents are
rarely short of hyperbole when it
comes to describing their latest
development. But in the case of Trinity
Leeds, the sheer scale and potential
impact of the scheme demands attention.
Construction of Land Securities’ multmillion- pound retail and leisure scheme has been given the green light, following the temporary suspension of activity in 2008 due to the recession.
Having achieved its lettings threshold – approximately 50 per cent of units are now pre-let – work is expected to restart this month [Aug], with completion expected in spring 2013.
The 1 million sq ft development, which will be anchored by Marks & Spencer, Bhs and Boots, is the first major retail-led development in the UK to be approved this this year. It is being billed by Land Securities as one of the strongest retail schemes in the country.
Business leaders have understandably welcomed the news. Aside from the much-needed boost to the ailing construction sector, the arrival of new businesses and consumers is likely to have a ripple effect that benefits the wider city economy.
They are hoping that approval for the landmark scheme will be the catalyst that turns the mood of fragile confidence in the city into solid grounds for optimism.
Ian Williams, director of policy at Leeds, York and North Yorkshire Chamber of Commerce, says the development is fantastic news for the city’s entire business community.
“It is a massive boost for the city and the local construction industry. The development will bring huge economic benefits to Leeds and will help to confirm the city’s positioning as a leading retail destination,” he says.
“With work starting on Trinity Leeds in August and on the Leeds arena in September, it shows that confidence in Leeds is re-emerging.”
His views are echoed by Keith Wakefield, leader of Leeds City Council, who says the move is excellent news for Leeds, in terms of the jobs being created and how the scheme will enhance the the city centre and its shopping and leisure offer.
Trinity Leeds will occupy the central shopping zone around Briggate, Commercial Street, Albion Street and Boar Lane – plugging a much-maligned ‘hole’ in the middle of the city. The development will also integrate with an extensively remodelled Leeds Shopping Plaza.
Trinity will include flagship stores for River Island, TopShop/TopMan, H&M and Next, along with a range of restaurants such as Carluccio’s and YO! Sushi. New retailers to Leeds are Southern California lifestyle brand Hollister and clothing shop Cult.
The development will house more than 120 retail units and includes the first Everyman Cinema in the north of England. Up to 1,000 jobs for construction workers will be created and jobs for an an estimated 3,000 retail staff.
However, the timing of the construction work has raised eyebrows in some quarters, especially given the possibility of a doubledip recession, which could impact on consumer confidence on the high street.
Land Securities appears to have no such worries. With the scheme not opening for approximately two years, the company believes that it will be launched amid a post-recessionary consumer glow.
Gerald Jennings, portfolio director, says: “Now is a good time to go back on site. If we were going to open this year, people would ask some serious questions. Starting this year means we complete in spring 2013, and we are confident about the way the economy will perform in the medium term.”
Jennings says Leeds has lost ground as a retail destination since its mid-nineties heyday, when the city was tagged the “Knightsbridge of the North” following the opening of the first Harvey Nichols store outside London.
He says: “Not a great deal has happened in the city since then. Leeds continues to perform well as a retail and leisure destination but it has lost some of its competitive edge to other cities.”
Few can argue that Trinity Leeds will be anything but good for the city. Opposing voices can be found, but they tend to focus on the impact that it will have on the character and soul of the city centre. Not everyone is a fan of the ‘everything under one roof’ concept.
Another concern is the impact on other parts of the city. Trinity Leeds will make it harder for independent traders to compete, with consumer footfall likely to fall in some shopping areas.
There are also concerns about the empty units left behind by retail brands that are moving into Trinity. However, Jennings says these fears may be unfounded. “There is enough demand in Leeds for people to backfill the space. We don’t just want to move retailers around like a chessboard.
“More people will come to Leeds and they will stay longer. That will have a ripple effect because they’ll spend their time and money in other shops and businesses in the city.”
Trinity Leeds is providing food for thought for business leaders in other parts of Yorkshire. The managers of South Yorkshire’s Meadowhall centre, for example, may be shifting uncomfortably in their seats at the prospect of losing shoppers up the M1.
The development may also influence thinking on the long-delayed Westfield Bradford centre, which started six years ago but was halted due to the recession. The proposed site was turned into a temporary urban park in July. Local business leaders remain frustrated at the lack of progress but Bradford Council and Westfield say they are still committed to the project.
Whatever your view on large-scale shopping centres, it is hard to see Trinity Leeds being anything other than a success. The recession may have changed many consumer habits but shopping is still a national pastime. The development is likely to attract tens of thousands of people to the city to shop, socialise or just sip a latte under the centre’s glazed roof.
Business leaders are hoping that Trinity Leeds will become a beacon for consumers on the scale of Manchester’s Arndale Centre or, more recently, West London’s Westfield complex. And if it achieves that, Leeds will be propelled into the premier league of retail.
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