Investment Thrives

Cushman & Wakefield has joined Knight Frank in marketing the 11,473 sq.metres (123,500 sq.ft.) No1 Leeds which was developed by BAM Properties on behalf of the IVG Institution Fund. The development potential is considerable because it has planning permission for a total of 55,554 sq.metres (598,000 sq.ft.). At the moment the Leeds office market is typified by the Public and Commercial Services Union leasing 587 sq.metres (6,315 sq.ft.) in Town Centre House which has been refurbished by Town Centre Securities and is now 95% let. While it is clear that the current phase is for small deals, the investment market is thriving. Knight Frank Investors, for example, on behalf of Lancashire County Council has paid MEPC £20 million for the 6,689 sq.metres (72,000 sq.ft.) Benson House, which is let to PricewaterhouseCoopers. The yield is 7.33%. Matthew Atkinson of Jones Lang LaSalle, in reviewing the second survey of investor confidence, said: “Activity in the second quarter was relatively strong with £60.3 million deals transacted, a rise of 9% on the same period of 2009. With several assets brought to the market in the same period this suggests a strong out turn for the third quarter but we expect capital values to remain relatively stable.”


The Yorkshire Commercial Property Register
The Yorkshire Commercial Property Register is a leading UK business property publication from Martin Austen Publishing. The aim of the publication is to offer a simple and effective means of finding Office Space in Yorkshire, Serviced Offices in Yorkshire and industrial commercial property in Yorkshire. You can also find the latest commercial property news for the Yorkshire region.