Land Securities reprots that its £350m Trinity Leeds shopping scheme is on target “to be one of the most profitable developments we undertake this cycle” after revealing it is almost 65% let.

The developer says that 45% of the space at the 1m sq ft retail and leisure development int he centre of Leeds has been let, with a further 12% in solicitors' hands and another 8% in negotiations. 

“The scheme continues to attract substantial interest and with two years to completion and moving towards being 65% let, it remains on target to be one of the most profitable developments we undertake this cycle,” says Land Securities.

The update comes as a new phase of work at the Trinity Leeds shopping centre is set to sta

rt. More than £10m is being invested in the transformation of Albion Street in Leeds, which will include a new glass walkway built above the shops at the northern end of the street.

The redevelopment work includes putting up temporary scaffolding beneath the link bridge at the midway point of Lower Albion Street and the removal of the existing bridge that spans the street.

Demolition works will start in February taking about six weeks and work on the new link bridge will start in the autumn.

Andrew Dudley, head of the project for Land Securities, said: “In the heart of this great city, we are delivering a 1m sq ft destination with a real wow factor. It will become a beacon for retail excellence on both an international and national scale.

Trinity Leeds is set to open early in 2013.