Telecoms giant’s HQ hits the market for nearly £50m

BT’s headquarters in Leeds have hit the market with a price tag of £48.9m.

The Grade A office building is fully let to BT on a lease with 17.25 years to expiry.

Providing 139,079 sq ft of office accommodation, the property was  built  in 2002. One Sovereign Street is arranged over ground and six upper floors with an open plan office design around a feature atrium.

Close Leeds station, nearby occupiers include KPMG, Direct Line Group, Mercer, Asda and the UK Government.

Simon Lister, investment director at Savills Leeds, which is marketing the property on beahlf of Gatehouse Bank, said: “One Sovereign Street offers an investor a chance to acquire a landmark headquarter building in one of the UK’s strongest regional markets. The combination of the strong covenant, an indexed lease and an excellent location in the heart of the city make it an attractive prospect for those looking for secure long term income.”