National developer, Commercial Estates Group (CEG) has announced the appointment of contractor I & H Brown to deliver the £400 million Kirkstall Forge and Apperley Road development in Leeds, with work beginning this week.
CEG has already completed a multimillion pound investment into the demolition and remediation of the 23-hectare site. This month’s start on the scheme will deliver a new railway station, access road and service the site by late summer 2015; paving the way for more than 1,000 new homes and 300,000 sq ft of office space. The Kirkstall Forge and Apperley Bridge scheme will be delivered with over £5million of private sector investment and will see 2,400 jobs created during the build. Once complete, it will boost the local economy by £5million annually.
The beginning of the construction work comes as Leeds City Region representatives attend MIPIM UK to sell in the city region’s investment propositions and outline the extensive opportunities for key property investors. CEG are attending MIPIM UK as one of the lead sponsors of the Leeds City Region delegation, which this year has seen the greatest level of private sector support; testament to the increased confidence in the property sector and high quality programme on offer.
Jon Kenny, director of CEG, commented: “Today kick-starts one of the most ambitious schemes in Leeds’ development pipeline. Working closely with Rachel Reeves MP, Leeds City Council and West Yorkshire Combined Authority, we have ensured that something very special and unique can be delivered at Kirkstall Forge; this sustainable travel offer and the quality of the new amenities and stunning riverside location will undoubtedly make it one of the most sought-after destinations in the north for both businesses and residents.”
Rachel Reeves, MP for Leeds West met CEG, Network Rail and Northern Rail on site. She said: “Kirkstall Forge is unique; the quality of the on-site amenities combined with its stunning riverside and woodland location will undoubtedly make it one of the most sought-after destinations in the north for businesses and residents. Kirkstall Forge is set to stimulate the local economy and will ultimately be a catalyst for major regeneration, much-needed housing delivery and job creation on a brownfield site.”
The Department for Transport (DfT) will provide a maximum of £10.3m towards the £16.9m needed to deliver railway stations on this site and at Apperley Bridge. The remaining 40% of the cost is made up of a local funding package comprising a private sector contribution of over £5m, supplemented by funding from the West Yorkshire Combined Authority.