Legal & General is close to signing a deal to build 7,000 homes and almost a million square feet of office space on the outskirts of Leeds, pulling the trigger on the chief executive’s plan to invest £1.5 billion in infrastructure during the next five years.
The £160 million deal, which launches Nigel Wilson’s plan and also would involve the construction of the first section of the east Leeds orbital road, could be announced as early as today. The development is forecast to create 13,000 jobs.
As part of the deal, L&G would acquire a 50 per cent stake in Thorpe Park, a 200-acre, mixed-use business development site in east Leeds, and would enter into a joint venture with Scarborough Group to deliver phase two