Marrico Asset Management and Helios Real Estate have been selected as preferred developer for the 2.8 acre site on Lisbon Street in the west end of the city centre.
Marrico and Helios intend to submit a planning application by the end of the year for Lisbon Square, a mixed-used development of 500 student rooms, 400 residential apartments, a 300-bed hotel, and 150,000 sq ft of office space.
The site has been used as a council car park since the pool’s demolition in 2009. If planning permission is granted, work could begin in 2021.
Council deputy leader James Lewis said: “We are excited by the Lisbon Square proposals, which would transform the former pool site and play a key role in bringing more investment and growth into the west end of the city centre.
“The development would support our efforts to double the size of the city centre, helping to boost the wider city economy by providing more jobs and opportunities, while at the same time providing a vibrant, world-class public space. The funds from selling the site would also support the delivery of crucial council services and tackling the budget gap we face.
“We look forward to seeing this plans come forward for consideration.”
Marrico managing partner Mark Barnes said: “We are delighted to have been chosen by Leeds City Council to develop this site. This highlights our expanding development profile and ability to maintain momentum despite current economic challenges. This achievement is a testament to the commitment and professionalism of our team.
“Since selection we have spent the intervening period refining our design to meet the changing needs of the market. The result is a scheme which would be a major asset to the city. We face challenges in the current environment but we are confident that our design will be compatible with market demands going forward.”
Helios chairman Trevor Cartner added: “This is undoubtedly the best remaining site in Leeds and our scheme would bring together a number of end users who will contribute to what will be a vibrant new area. We are working with a student operator who will own and operate the student accommodation together with a major hotel brand. The apartments and offices would be released to the market and we anticipate very high demand.”