Shares in Land Securities were up on the FTSE 100 in morning trading after the company said it would be beginning work on its Trinity Leeds development in Leeds city centre.
Land Securities said that the million square foot project was already 47 per cent pre-let or in solicitors hands and would bring together "the best of the UK high street, premier bands and international retailers".
The new development is set to open in spring 2013 and will, according to Land Securities, be "one of the strongest retail offers in a regional UK city".
Over 120 retail units will be available at the development and the project will see the opening of the first Everyman Cinema and Yo!Sushi restaurant in the North.
Richard Akers, Managing Director Retail for Land Securities, said, "We have seen a building of momentum with the level of secured lettings demonstrating the confidence in Leeds as a destination and in the Trinity Leeds project, which is the first major development scheme outside London to go live. The quality of retailers that we have signed to the scheme supports Land Securities' view that there is demand from retailers for the right property in the right location."
By 11:24 shares in Land Securities were up 1.20 per cent on the FTSE 100 to 588.00 pence per share.