Prime Leeds city centre site sale set to make £12m for council

LEEDS CITY COUNCIL is looking to raise around £12m through the sale of a prime development site and heritage buildings in the city centre.

The site at 2 Sovereign Square and the complex of three grade II listed buildings in the Civic Quarter mark the latest step in the council’s ambitious asset management programme.

The plot at 2 Sovereign Square, for which the council is seeking offers in excess of £4m, is the remaining development opportunity of three the Council has brought to the market.

Located next to the newly constructed 1 Sovereign Square, occupied by KMPG, and 3 Sovereign Square, shortly to be occupied by Addleshaw Goddard, the site extends to approximately 1,000 sq m.
 
Meanwhile, at the heart of the city’s civic quarter, The Leonardo Building and Thoresby House, both on Rossington Street, along with 2 Great George Street, for which there is a price tag of around £8m, will be vacated and staff moved to the new state-of-the-art hub at Merrion House as the council continues with its Changing the Workplace project.

The Council said the plans, agreed in principle by its executive board in July, will be the next step in “transforming the way thousands of council staff work, giving the public more efficient access to important services and saving the authority around £15m.”

All three listed buildings will be advertised for sale on the open market, with staff continuing to work there until Merrion House is ready to occupy in 2018.

The buildings are currently authorised for office use, but could also be suitable for a hotel, restaurants, cafes and entertainment venues.

Once staff have relocated from the buildings, the newly refurbished Merrion House will then become the main base in the city centre, with Leeds Civic Hall, Enterprise House and St George’s House also being retained.

Leader of Leeds City Council, Cllr Judith Blake, said: “Leeds is a fast growing and thriving city, with an ambitious vision for the future.  The site in Sovereign Square and the complex of heritage buildings in the civic quarter offer unrivalled opportunities to be part of our success story. 
 
“Sovereign Square’s proximity to Leeds station, the fantastic city centre retail offer and the exciting South Bank makes the site one of the very best connected locations in the city; while the complex of Leonardo, Thoresby House and 2 Great George Street is ideally located within the business, higher education and innovation area.
 
“Leeds City Council’s proactive approach to managing our properties plays a pivotal role, both in stimulating the city’s economy and securing vital services for the people of Leeds.”
 

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