'Huge growth opportunity': Support for transformational Royal Armouries Waterfront development
The Royal Armouries Waterfront project has support from the Government 👍
The Government has said it will support the Royal Armouries Waterfront project, which aims to deliver a new riverside cultural, events and conference venue at the heart of Leeds South Bank.
Chancellor Rachel Reeves confirmed the news during her keynote speech at the UK Real Estate Investment and Infrastructure Forum (UKREiiF) at Leeds Dock yesterday.
The conference is the UK’s largest investment and real estate forum and has been held at the Royal Armouries Museum since 2022.
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The news comes after the Chancellor also confirmed that Leeds will receive a multi-million-pound investment from the Government’s City Investment Funds to unlock new job and housing opportunities.
The Royal Armouries Waterfront project has been made possible by the establishment of the Leeds City Fund – a 25-year business rates retention scheme that was announced in the 2025 Autumn Budget.
With backing from the Department of Culture, Media and Sport, Leeds City Council and West Yorkshire Combined Authority, the project aims to create approximately 3,500 m² of flexible, immersive event space and 4,500 m² of new public space, including food and beverage opportunities, alongside more than 3,000 m² of supporting facilities.
Plans also include a commercial opportunity to develop a 150-key hotel, cementing Leeds' position as a premier conference and exhibition destination.
The Waterfront project is projected to support 445 full-time jobs, attract over 300,000 new museum visitors and event attendees each year, and generate a combined land value uplift of approximately £240 million across Leeds South Bank.
Nat Edwards, Director General and Master of the Armouries said: “The Leeds City Fund is instrumental for the Royal Armouries to move forward with our ambitious project.