Shadow Chancellor tours Tower Works Build to Rent

The Shadow Chancellor of the Exchequer visits Tower Works Build to Rent scheme, which is currently under development in Leeds city centre.

Rachel Reeves, Shadow Chancellor and MP for Leeds West visits Tower Works Build to Rent scheme in Leeds - Richardson | Ask Real Estate | BTR News
L to R: Steve Walker, Project Manager, Sir Robert McAlpine; Paul Faulkner, Chief of Staff & Operations, Richardson; Rachel Reeves, Shadow Chancellor and MP for Leeds West; Simon Eastwood, Director of Real Estate, Richardson; John Hughes, managing director, Ask Real Estate.

Rachel Reeves MP, the Shadow Chancellor of the Exchequer, visited the Tower Works Build to Rent scheme on Friday, 7 October 2022. The scheme is currently under development in Leeds city centre.The MP for Leeds West received a tour of the canal-side site and an update on construction from representatives of Richardson and Ask Real Estate, who are developing the scheme in conjunction with builders Sir Robert McAlpine and Homes England, with funding from Legal & General.

“It was great to welcome the Shadow Chancellor to Tower Works, and to be able to showcase the development to such a high-profile local MP. We are very proud to be developing this scheme in Leeds city centre with our partners, delivering top-quality accommodation and public realm on a historic site in a manner that will help to rejuvenate the area as a place to live and work.”

John Hughes, Managing Director, Ask Real Estate

Known for its three listed 19th century Italian-inspired towers, the development, designed by Ryder Architects, will provide 245 new Build to Rent units across two residential buildings, with a mix of one-, two- and three-bedroom apartments and duplexes, together with ground floor commercial spaces and new areas of public realm. Completion is expected in Spring 2023.

Tower Works has also recently achieved WiredScore Platinum certification, making it the first residential development in Leeds to attain the verification of infrastructure connectivity.

“We were delighted for this opportunity to show the Shadow Chancellor the great work achieved by the project team at Tower Works and explain how this scheme is supporting the regeneration of the South Bank of Leeds and making a tangible social impact on local communities, notably through employing the local workforce, supply chain, and apprentices.”

Mark Gibson, Managing Director Northern, Sir Robert McAlpine

As well as providing new housing stock in the city centre, the development also aims to provide social value for the region. Social Profit Calculator, in partnership with Sir Robert McAlpine, estimates the total social value of the development for the people and communities of Leeds to be nearly £18m, with a GVA uplift of nearly £8m achieved through investment in local supply chains and the creation of local employment opportunities. Richardson and Ask Real Estate are also sponsoring the upcoming ‘Light Night Leeds’ Festival, with the aim of demonstrating a wider commitment to the cultural life of the city.

“In my Labour Party conference speech a couple of weeks ago I talked about how ‘cranes going up and shovels in the ground’ are a sign of ‘the future arriving’, so it was great to see this in practice at the Tower Works development in Leeds on Friday.

“As well as providing new housing in the city centre, the development also has broader benefits for the region, with the total social value for the people and communities of Leeds estimated to be nearly £18m.

“It’s just this sort of development we need to see in towns and cities across the UK if we’re going to grow the economy and create strong communities in all parts of the country.”

Rachel Reeves MP