City Square site sold by multimillionaire entrepreneur
THE Old Post Office building in City Square, Leeds has been sold by businessman Paul Sykes.
The owners of the Quebecs Hotel on the adjoining street to City Square have bought the site from Mr Sykes’ property company Highstone Estates.
The building is home to well-known Leeds watering hole, Restaurant Bar and Grill as well as seafood restaurant Loch Fyne.
The leasehold on Loch Fyne’s building has recently been transferred to Arc Inspirations, owners of Banyan, Manahatta and The Pit.
Related: Grade II-listed hall set for spa refurbishment creating 150 jobs…
They are planning a £1.5m investment in the site.
Mr Sykes’ Highstone Estates invested £8m in the refurbishment of the building in 2006.
It has owned the City Square site since 1987 when it was still being used as a post office.
It was built in 1869, and is a grade II-listed site.
Jonathan Evans, director at Colliers International, added: “The new owners are experienced operators with a portfolio of other luxury boutique hotels including the four-star Quebecs Hotel in Leeds and the newly refurbished GreyFriars Hotel in Colchester.”
Toby Cockcroft of Croft Commercial said: “The off-market sale process attracted both UK and international bids, including from the Middle East, London and the north of England, so we were really pleased to have closed the deal for Highstone.”
Read next: World’s largest wind farm to be built off Yorkshire coast…
