No 1 Leeds is top of the letting charts
The Leeds office of global property consultancy Knight Frank, in conjunction with London-based niche agency Bray Fox Smith and global agency Jones Lang LaSalle, has advised on two significant lettings at No 1 Leeds in Whitehall Road.
Energy company GDF Suez has agreed to lease 30,000 sq ft at IVG’s No 1 Leeds development in the city, whilst Yorkshire Post Newspapers has taken 40,000 sq ft.
These are the two biggest office lettings in Leeds during the past 12 months and follow on from the previous largest letting, also at No 1 Leeds, when advertising agency Gratterpalm took 19,000 sq ft.
Alex Duckett, office agency specialist with Knight Frank, commented: “These lettings firmly establish No 1 Leeds as a prime office building. They also underline the excellent working relationship with Bray Fox Smith and Jones Lang LaSalle.
“Together we have worked hard to reposition No 1 Leeds in the market to both occupiers and agents and change the previous perception of the building from when it was called Latitude Red. Owners IVG have assembled a tremendous team at all levels, which has led to No 1’s success,” he explained.
There is now only one floor, comprising 15,500 sq ft, at No 1 Leeds left to rent, which is understood to have significant interest.
Jonathan Gale of Bray Fox Smith said: “We have worked closely with Knight Frank and Jones Lang LaSalle to provide an efficient and pro-active one-stop shop service for our clients IVG. These deals are a massive endorsement of Leeds as a top-quality business centre, as well as No 1 Leeds as a prime office development. We are now eager to finish our job and let the final floor”.
GDF Suez, one the largest utility providers in the world, is moving from its existing UK headquarters in the city, at 1 City Walk. It has taken a 10-year lease on the 120,000 sq ft property. Prime rents in central Leeds are around £24 per sq ft.
Richard Thornton of Jones Lang LaSalle commented: “Both the Yorkshire Post and GDF Suez chose this special building above all others in Leeds because it contains so many desirable, hi-spec and sustainable features in a bright working environment. The high-quality design and the accessible location are perfect for any occupier looking for highly efficient space”.
Sim Khatkar of Bray Fox Smith added: “It is also one of the most energy efficient buildings in Leeds with a higher than normal occupational density, so the occupier saves money from the outset. Its location, close to Leeds Station with immediate access to Yorkshire’s excellent motorway network which is surrounded by an abundance of cheap car parks is now realised by occupiers ”.
Helen Oldham, managing director of YPN, said: “I am delighted that we have secured new high profile, quality city centre premises for our Leeds and Wakefield businesses. The move signifies a sizeable investment in our people and will provide an environment in which we can take our highly regarded media brands forward positively.”
The Yorkshire Post and Yorkshire Evening Post building, which opened in 1970, once housed more than 1,300 staff but now has less than 400 staff based there.
No 1 Leeds, formerly Latitude Red, on Whitehall Road, was sold by its developer BAM Properties to IVG in 2007. Other occupiers, apart from Gratterpalm, include i2 Office.
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