Thorpe Park Leeds boosted by £270 million infrastructure funding package
05 Dec 2016
Scarborough International Properties Limited (SIPL) and Legal & General (LG), welcome today’s announcement by Leeds City Council of a £270 million investment in a number of important railway infrastructure projects in Leeds supported by the Department for Transport, including a new railway station at Thorpe Park Leeds. This investment will support and encourage the City’s ambitious growth strategy.
The railway station and associated park and ride at Thorpe Park Leeds will provide an integral part of the infrastructure that will connect this unique business, retail and leisure park to Leeds city centre.
Thorpe Park Leeds is a well-established 800,000 sq ft business park with over 60 occupiers including IBM, National Grid, Kier, Laing O’Rourke, Atkins, BAM and United Utilities.
Delivery of a new second phase of Thorpe Park Leeds follows last year’s announcement that Legal & General Capital is to invest £162 million as joint development partner with Scarborough. Preparation work is already underway to deliver a new 300,000 sq ft shopping and leisure park and the first phase of 940,000 sq ft of offices. The development will also include 300 new homes by Redrow and a 113-acre public park with sports facilities.
Phase two also includes delivery of the first section of the ‘East Leeds Orbital Road’, a key piece of infrastructure connecting north and east Leeds to Junction 46 of the M1. This road will unlock land for the construction of up to 7,000 new homes in the East Leeds area, land that is either already allocated in the Local Plan or which is ‘brownfield’ land. This will also benefit from the proposed new railway station.
Thorpe Park Leeds recently won the coveted ‘Best Deal’ Award at the Yorkshire Property Awards for its groundbreaking funding arrangement with Legal & General Capital.
Kevin McCabe, Chairman of Scarborough International Properties Limited commented: “We are delighted to hear from the City Council that funding support has been confirmed for these important transportation projects for Leeds, in particular the new railway station and park & ride at Thorpe Park Leeds.
“Thorpe Park Leeds is already in the process of a huge transformation, creating a unique business, shopping, leisure and living community, but the prospect of the railway station brings another step-change.
"We will start building the first phase of the East Leeds Orbital Road in the New Year, connecting the M1 to Manston Lane, over the railway. With the additional 1.65m sq ft of mixed use development that is now underway, and the thousands of new homes to be built in the East Leeds Extension, Thorpe Park Leeds is an ideal strategic location for this new railway infrastructure”.
Rachel Dickie, Investment Manager, Legal & General Capital added: “We are delighted to be involved in this kind of transformational regeneration project.
“The news from the City Council is very welcome and shows what can be achieved when the public and private sector work together.
“Since partnering with Scarborough on the Thorpe Park Leeds project we have continued to invest to bring forward this exceptional project. We look forward to playing our part in realising the vision for Thorpe Park Leeds”.