KPMG and developers Sovereign Leeds have teamed up to explore a major office development at Criterion Place in the city.
The professional services firm has secured a nine-month exclusivity agreement for the site with Leeds City Council.
The same site was earmarked for a £115 million development by Simons Developments but the plans were ditched due to the recession. The original proposals involved 301 flats and a 161-bed hotel in two towers - which had been dubbed the Kissing Towers.
KPMG currently employs 750 workers at its base in Neville Street, adjacent to the Criterion Place site.
KPMG’s senior partner in the Leeds office, Iain Moffatt, said: “In the face of a challenging property development market we are pursuing an innovative route to meeting our future office requirements by taking on an active role of development partner.
“We are continuing to consider all options but, clearly, will be focusing on the opportunity presented by Criterion Place in the coming months.”