Optimism returning to market, says Aspin

PROPERTY entrepreneur David Aspin believes optimism is returning to the Yorkshire office market.

Speaking to TheBusinessDesk.com at the MIPIM international property conference today, Mr Aspin also revealed he was hoping to make a number of positive announcements about the White Rose Office Park in Leeds over the coming weeks.

Mr Aspin’s Munroe K property investment and development business is behind the popular development, which offers more than 500,000 sq ft of space.

Commenting on market conditions, Mr Aspin (pictured right), who visited the Leeds City Region stand this morning, said: “I think there’s certainly more optimism around. In Leeds, there’s certainly the demand there. And there’s a complete absence of grade A space.”

He said it was difficult to predict whether the market was beginning to move on an upward trajectory rather than remaining flat.

But he added: “Personally, everybody that I’m seeing and speaking to seems to be saying there’s more activity and it certainly feels stronger out there than in previous years.

“I think things are feeling a little better and more positive. It’s difficult to say if this is the beginning of a new cycle but it’s certainly the beginning of something. And then the market does turn it will be quite focused and strong.”

Meanwhile, White Rose Office Park has appointed a team of experts to improve energy efficiency at the  site.

Munroe K has hired GMI Energy, a division of GMI Group whose construction arm has built the office accommodation at White Rose Office Park.

Mr Aspin said he was committed to continually improving the carbon output of the site and has plans to build a completely carbon neutral crèche as well as installing solar photovoltaic’s and wind power which would enable the it to generate a significant proportion of its energy usage from on-site renewable systems.

Leeds-based GMI Energy has already provided a new LED lighting system for the car parks which has replaced 200 fluorescent lights, reducing the energy consumption of one car park alone by 70 per cent.

Mr Aspin said: “Reducing our carbon output is of utmost importance to me and the investment into new technologies will inevitably contribute to the future of the park. This recent appointment of GMI Energy follows the addition of CBRE to our lettings team.”

Jonathan Shires, director of office agency at CBRE Leeds, added: “Occupiers are very energy aware and any measures taken to make the accommodation at White Rose Office Park even more green will undoubtedly increase its already significant appeal. Munroe K continually invests in the park and the people that work there and just by changing something as simple as the lighting system have made a CO2 saving of 95 tonnes a year.”

GMI Energy’s managing director Carl Nielsen said:  “GMI offer the complete solution from advice to installation with analytics to support systems.  This means that Munroe K can provide its tenants, who have carbon targets of their own, support and documentation for their own accounts.”