Land Securities has repaid a £360 million outstanding
short term finance debt relating to its Trinity Quarter
development investment in Leeds, having confirmed a number of lettings at the site.
The lettings firm has also repaid a £165.8 million bank facility relating to the development, reflecting a change in the structure of the scheme's ownership.
Land Securities' third quarter management statement noted that "good progress" had been made with retailer discussions.
It added: "During the quarter we concluded a number of lettings with further lettings in solicitors' hands and we are making progress toward our pre-let threshold before committing to the start of the development."
Progress on the development had been stalled in April last year following the onset of the recession, but looks set to be concluded soon.
The announcement comes as Land Securities unveiled a £655 million West End development investment in three new projects.
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