Construction sector in Leeds sees record number of completions
At Mone Brothers we were delighted to hear that the latest Deloitte Real Estate Crane Survey has found record levels of construction scheme completions in Leeds. The annual report, which is based on the twelve months from January 2016 â€“ December 2016, is seen as a barometer for developer sentiment and future supply, which suggests more success for the city over the next year and beyond.
Indeed 2016 was a very busy year in Leeds. The number of major construction scheme completions totalled 20, up from the eight which took place in 2015. This work which took place last year included high profile projects like Central Square, Wellington Gate and the new south entrance to Leeds train station. Victoria Gate was another development which firmly cemented Leeds on the map as a high profile shopping destination by providing space for 23 new stores.
Other key findings in the report included that 2016 saw the highest level of office space completed across the city since 2007, over twice the average yearly total of retail floor space was completed and that it had the most hotel starts within the last decade. Four new hotels were added to the cityâ€™s skyline in 2016, adding an additional carrying capacity of 365 beds.
The survey also noted a shift in construction focus which is now centred on the South Bank as well as other train station developments. We are excited by the news in the report and as a key supplier of materials and equipment to the construction sector, look forward to more schemes getting underway in the city this year.
Mone Brothers are a family run business and are one of the biggest suppliers of building materials, recycling services and plant equipment across the UK. For more information about Mone Brothers and the services they provide please call 0113 2523636.