Town Centre Securities has been selected by Leeds City Council to develop a £20m mixed-use scheme in the city.
The development on George Street will include an aparthotel of around 117 rooms and nine ground-floor retail and leisure units.
Work is due to commence on site in the first quart of 2019 and complete in 2020.
The development will be undertaken as a partnership between TCS and Leeds City Council, with the council acquiring a 50% ownership of the completed development.
Edward Ziff, chairman and chief executive at Town Centre Securities said: “Leeds has seen an influx of visitors and businesses and we are delighted to have secured this scheme to deliver additional accommodation capacity in this sought-after location.
“We are confident this scheme will further enhance the regeneration of this area of Leeds.
“Our development programme, which focuses on both creating and improving investment properties from within our portfolio, and seeking new opportunities such as this one, offers considerable potential for value creation.
“The programme continues to progress well and is expected to drive increases in rental income and capital value in our portfolio.”
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