The Leeds postcode that’s proving a magnet for business
- The LS10 postcode in Leeds has seen a 31% increase in active businesses during the past 12 months
- The district which is home to the Royal Armouries and will host a major business event next week is outstripping the rest of the city in terms of business generation
- Progress bodes well for the new Leeds Transformational Regeneration Partnership initiative
New research from UK spatial intelligence app, EvaluateLocate, shows that the LS10 postcode district in Leeds which stretches south from the Royal Armouries site on the banks of the River Aire down through Hunslet, Belle Isle and Middleton has seen 410 businesses start trading during the past 12 months, representing a 31% growth rate in the local active business population.
By comparison, Leeds as a whole saw its total number of active businesses grow by a more modest 0.2% to reach 29,100 across the whole city as of April 2024.
In the city’s hottest postal district, the net increase in new LS10 businesses was driven by:
- 81 new professional services providers (up 20%)
- 67 firms across the construction sectors (+41%)
- 38 new businesses in the district’s entertainment and leisure industries (+31%)
- 67 retail businesses (+17%)
In addition to this spike in new businesses, the district’s Economic Vitality Index rating as calculated by EvaluateLocate has risen by 4.9% during the past 12 months which outpaces the rest of the UK.
Adam Kirby of EvaluateLocate comments: “South East Leeds is a booming area which is an encouraging beacon of growth. The trend shows what is already being achieved in LS10 and how that momentum can help wider regeneration across Leeds”.
In March, plans were unveiled for a 10-year project that will see Leeds City council partner with national, regional and local government to regenerate the city centre and five adjoining ‘city rim’ neighbourhoods. The Leeds Transformational Regeneration Partnership aiming to create 20,000 new homes. It will target the revitalisation of six areas: Mabgate, Eastside & Hunslet Riverside, South Bank, Holbeck, West End Riverside and the Innovation Arc within the city centre.
Next week, the Royal Armouries will see around 12,000+ delegates arrive for the third annual UK Real Estate & Infrastructure Investment Forum (UKREIFF). Last year, the event was estimated by ARUP to have delivered a £12.1m economic positive impact on the city.
Adam Kirby concludes: “When bringing forward major regeneration projects it’s important to understand local economic identity and the direction of travel for communities and businesses.
“This data is crucial for those looking to develop and invest in local communities, and is something which will become increasingly important as the Leeds economy starts to build on this localised return to growth.”