Leeds City Council has signed a joint venture agreement with London and Continental Railways (LCR) to deliver the 450m redevelopment of the city’s main railway station.
It is anticipated that the joint venture arrangements will be in place for 20 years, reflecting the timeline for the delivery of the HS2 and Northern Powerhouse Rail projects.
LCR is a UK Government (DfT) owned company which specialises in railway led regeneration.
A statement by the council said: “This redevelopment and regeneration is critical to supporting the Council’s Inclusive Growth Strategy call for 21st century infrastructure to support the growth of the city and region (creating jobs and social/economic development).”
The two parties will prepare a business plan to identify each of their resource commitments, the programme of work and costs together with an outline three-year plan to show forward programme and strategy.
Returns will be split 50/50 between the two partners.
