Ownership of the Centre was transferred in 2005 when its then owners Topps Estates were bought by property giant Land Securities who also own the White Rose Centre, a large out-of-town shopping centre in Leeds.
Since around 2000 plans were made to redevelop the adjacent Trinity and Burton Arcades a largely run down shopping precient which opened in 1973 into a modern shopping centre using designs by the late Enric Miralles. However this had been long delayed because of arguments at planning between the then owners of both centres Universities Superannuation Scheme (USS) (owner of the Trinity and Burton arcades) and Topps Estates owner of the Leeds Shopping Plaza which included Topps Estates objecting the scheme and lodging its own rival scheme on the site.
However more recently following the sale of Topps Estates to Land Securities and the change in ownership of the Trinity and Burton Arcades to Caddick Group and following the granting of a Compulsory purchase order by Leeds City Council the process of constructing the centre was finally realised.
The centre will be redeveloped between January 2008 and 2010 where the Leeds Shopping Plaza will be remodelled and become known alongside the comprehensively redeveloped Trinity and Burton arcades as Trinity Leeds and the combined scheme will give a claimed floor space of of retail space for a total of 100 stores also including Marks and Spencer and Topshop / Topman (which already exist due to their location adjoining the existing Trinity / Burton arcades although being stand alone units also fronting onto Briggate they will not be redeveloped for this scheme).