The former Tetley Brewery site has been sold by Carlsberg UK for an undisclosed sum.
The brewing giant has announced that Vastint, the property division of the Inter IKEA Group, has bought the prized 22-acre plot in the Leeds’ South Bank, which is billed as one of the in Europe.
Earlier this year it was reported that the former industrial site was on the market for £35million but Vastint and Carlsberg UK have refused to put a figure on the sale.
The landmark site was home to the famous Tetley Brewery for 189 years until the taps ran dry in 2011 and it was rumoured that around 11 developers were interested in buying the land.
Vastint claims it plans to bring forward the redevelopment of the site in line with the aims of Leeds City Council’s South Bank Planning Statement to create a vibrant, residential and business community with the prospect of a city centre park.
Andrew Cobden, managing director of Vastint UK Services Ltd, said: “It is really special to have the chance to contribute to the regeneration of the South Bank area, having the potential to bring considerable benefits to the city.
“We’re looking forward to engaging with all key stakeholders to bring forward a scheme that is in step with the council vision.”
The former brewery site now hosts a 900-space car park as well as the revamped Tetley headquarters building, which now hosts a contemporary art gallery.
The sale agreement means the revamped building, now known as The Tetley, will remain under the ownership of Carlsberg UK and will remain open while the firm will maintain a presence at the Tetley’s House office building on site.
Bruce Ray, corporate affairs director at Carlsberg UK, said: “We are pleased to have agreed a deal with Vastint, whose plan carries with it a commitment to respect the site’s history and heritage.
“We’d like to express our gratitude to all of the interested parties and local stakeholders that we have been working with so closely during this period. We now look forward to supporting Vastint on the next stage of the process.”
It is believed there are no plans for an IKEA store on the land. Vastint maintains it is not linked to the “IKEA concept” or the IKEA retail operations and does not develop IKEA stores.
Coun Judith Blake, leader of Leeds City Council, added: “We are keen to see plans put forward for the Tetley Brewery site which are appropriate in terms of strengthening connections with the city centre as well as neighbouring communities, creating jobs and opportunities for local people and improving the look and feel of the area through good quality design and imaginative use of public spaces.
“This is very much a landmark deal for Leeds so we look forward to hearing Vastint’s plans to be a key part of the future economic growth of our city.”