THE consortium that acquired a prominent site in Leeds in the United Kingdom on Tuesday said it has got approval for the first phase of its proposed masterplan from the city council.
In a filing to the bourse operator, the consortium comprising Heeton Holdings, KSH Holdings, Lian Beng Group and Ryobi Kiso Holdings, said that the first phase of the plan involves the refurbishment and extension of the existing office building which is south of the site.
The plan is to transform it into a 182-room hotel, with ancillary restaurant and gym. The hotel will have an internal floor space of 78,490 square feet and 61 car parking spaces for staff and guests, the consortium said.
"With this approval, demolition across the site is now underway, with enabling works and the main building works scheduled to be rolled out seamlessly in 2017," it added.
The consortium has been in discussions with internationally recognised hotel brands and targets to capture the demand from increasing visitor numbers following a number of high quality retail and leisure projects in the city centre.
It has proposed the second phase of the masterplan, comprising about 780 apartments, cafes and creative workspaces, set within extensive and varied green spaces. A total of five new towers, ranging from 11 to 41 storeys will be constructed and the companies said that this proposed masterplan will be presented to the locals for their feedback in the coming weeks, followed by approval from the local authorities.
In July 2015, the consortium, led by Heeton, said that it had acquired the Leeds site spanning some 106,722 sq ft that is within five minutes' walk from the city centre, off Regent Street and New York Road - Leeds city centre's two main thoroughfares.