Leeds City Council has selected Marrico Asset Management and Helios Real Estate as preferred developers for a £270m redevelopment on the 2.8-acre site on Lisbon Street in Leeds, UK.
The project will include the transformation of the site of the former international swimming pool into a mixed-use project, known as ‘Lisbon Square’.
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It will feature 500 student apartments, 400 residential apartments, a 300-bed hotel and 150,000ft² of office space.
Developers Marrico and Helios plan to submit a planning application by the end of this year to deliver the Lisbon Square.
The new site is expected to include a significant public realm development, similar in scale to Sovereign Square, complementing the nearby Park Square.
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The space has been used as a council car park since the pool was demolished in 2009. If the plan is approved, work is expected to begin next year.
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By GlobalDataMarrico managing partner Mark Barnes said: “We are delighted to have been chosen by Leeds City Council to develop this site.
“This highlights our expanding development profile and ability to maintain momentum despite current economic challenges. This achievement is a testament to the commitment and professionalism of our team.
“Since selection, we have spent the intervening period refining our design to meet the changing needs of the market. The result is a scheme which would be a major asset to the city.
“We face challenges in the current environment but we are confident that our design will be compatible with market demands going forward.”
Leeds City Council deputy leader and executive member for resources James Lewis said: “We are excited by the Lisbon Square proposals, which would transform the former pool site and play a key role in bringing more investment and growth into the west end of the city centre.
“The development would support our efforts to double the size of the city centre, helping to boost the wider city economy by providing more jobs and opportunities, while at the same time providing a vibrant, world-class public space.
“The funds from selling the site would also support the delivery of crucial council services and tackling the budget gap we face.”
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Leeds council selects developers for £270m mixed-use project. (Credit: Pixabay/MichaelGaida.)
