64,000 sq ft Leeds city centre offices snapped up

Two buildings spanning 64,278 sq ft in the heart of Leeds city centre’s commercial district have been acquired in a £9.5m deal.

Manchester-based Property Alliance Group has made its first acquisitions in Leeds after buying 33 Park Place and 31 York Place from Aviva Investors.

The offices are 76% let to nine tenants, predominantly in the professional services and property sectors, including Mapeley, Allsop and Trillium Property.

Alex Russell, managing director of Alliance, said: “We are actively seeking to expand our office portfolio outside of the North West. Leeds has seen significant development in recent years and has a thriving business environment, so is one of our key targets for further investment.

“These properties are in an ideal city centre location, close to the railway station and Trinity Shopping Centre and in a district which is home to many leading law firms, financial companies and property consultancies. With our asset management experience, we are confident that we can secure further lettings and look forward to building our presence in the city.”

Alliance and Aviva acted for themselves in the transaction.

CBRE and JLL have been appointed as joint letting agents for both buildings.