Shoosmiths appointed to advise on landmark £160m development in Leeds

Shoosmiths appointed to advise on landmark £160m development in Leeds

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Author: Kara Shadbolt

National law firm Shoosmiths acted as legal advisor to the developers of a landmark £160m skyscraper earmarked for a site in Leeds.

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Richard Outhwaite

Leeds-based property developer Parklane Group instructed Shoosmiths to provide legal advice for the proposed development, which would total 33 storeys and comprise almost 485,000 sq ft of space.

The proposed INC building, on Wellington Street, would be developed into a mix of commercial, residential and leisure facilities. Plans for the scheme include a 198 unit aparthotel, 163 PRS apartments and 200 co-living apartments.

The building will also include almost 43,000 sq ft of co-working space, a bar and restaurant, swimming pool, gym and retail facilities.

Richard Outhwaite, real estate partner at Shoosmiths who lead a multi-disciplinary team, said: "Parklane Group is a market leader in property and leisure developments and we're looking forward to being involved in this exciting project.

"INC will not only transform the Leeds skyline but also create an inclusive and contemporary approach to living and working in the city. The development will have a huge positive impact on the regional economy and we're delighted to be able to play a part in making it happen."

Naveen Ahmed, Parklane director, said INC in Leeds had been designed to provide a step change to what was already available across the north of England.

"Our vision is not only developing world-class facilities, but creating a lifestyle that fits the aspirations of the innovative and dynamic businesses and people in our city."

"Our ambition is to create a stand-out building in the North, competing with schemes with a national and international profile. We want this landmark building to become an asset for the city.

"This development will be a concept that can be rolled out in other cities across the country and internationally."

Shoosmiths' award-winning real estate team was recently named Regional Real Estate Firm of the Year by the Legal 500 2018 for its expertise across the North of England.

Simon Meek, partner in Shoosmiths Leeds' real estate team, added: "We're thrilled to have advised Parklane Group in the development of INC, which promises to be a fantastic addition to Leeds city centre.

"The Leeds real estate team is experiencing a strong period of growth, working on a number of high profile mandates and we hope to continue to strengthen our presence across the region."