Two large office space deals have been completed in Leeds, in a sign that confidence is restoring to the city’s commercial property.
Earlier this week property consultants King Sturge, acting for Falcon Property Trust, sold the Mortec Office Park Road to a private buyer for £1.5 million. The office park houses some 24, 245 sq ft of office space over six office units.
Ben Hall, an associate in King Sturge’s Leeds-based investment team, told the Yorkshire Evening Post: “This sale, which is further evidence of investment deals returning to the Yorkshire commercial property market, offers good asset management potential for the buyer who will benefit from an attractive return on their investment.”
This has since been trumped as the biggest deal in recent months, however, with the news that the Child Maintenance and Enforcement Commission is to take over a building in Meadow Lane.
The government agency is expected to be paying around £21 per sq ft for 60,000 sq ft of office space over a 15 year lease.