Building Briefs: JM Finn; St.Modwen; CBRE; Dacres Commercial

UK investment manager JM Finn is set to move in to new offices in Leeds following a deal brokered by property agents Jones Lang LaSalle.

JM Finn has agreed to take 3,600 sq ft on a 10-year lease on the fourth floor of 33 Park Place from landlord Aviva Investors.

This acquisition of a larger office suite will bring about a move for its Leeds team from JM Finn’s existing nearby office on King Street.

Jeff Pearey, head of Jones Lang LaSalle’s Leeds office, said: “JM Finn joins a superb line of professional services firms within the 33 Park Place underlining its prime location in the heart of the office core yet still close to the retail areas as well public transport links.”

Other occupiers include Stephen George & Partners, The Passport Office, the TUC, Turley Associates and RG Group.

Knight Frank is joint leasing agent on the building.

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THE Industrial Agency team at CBRE in Leeds has been instructed by Kerry Foods to sell its former factory site in Durham which offers 132,616sq ft of industrial and office accommodation on a 5.82 acre site on Dragon Lane.

The extensive site is being marketed on a freehold basis with vacant possession following the facility’s closure last year.

Associate director of industrial agency at CBRE Leeds, Dave Cato, who has brought the property to market said: “The site presents a unique opportunity for the redevelopment of a strategically-located property within an established business and employment area of Durham. Spanning 5.82 acres, the site has clear potential for a range of uses and we anticipate high levels of interest from a range of parties.”

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REGENERATION specialist St. Modwen has let 3.5 acres of open storage space at Parkside Industrial Estate in Doncaster to asset rental business Dawsongroup.

Dawsongroup has taken two separate compounds at Parkside, including a 1.75 acre unit for its Dawsonrentals Truck & Trailer division and a 1.75 acre unit for Hiregate Vehicle Rental, a business to business van rental company. Both lettings are on a five year lease.

Richard Bannister, development manager at St. Modwen, said: “We are delighted that Dawsongroup has completed its move to Parkside Industrial Estate, where there are now only three acres of open storage land available to rent and our buildings are fully occupied.

“Our investment in Parkside and refurbishment of the buildings has enhanced our offer and has enabled us to secure some quality tenants.”

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OTLEY is seeing a revival in its commercial property market, according to an industry expert.

Dacres Commercial has let and sold almost 9,000 sq ft of space in Otley, West Yorkshire, which it says is signalling a revival.  

The business has sold the former Atkinson Dacre Solicitors building on Boroughgate to a residential developer and also let the former Westgate Doctors Surgery to a specialist autism services organisation.
 
Matthew Brear from the firm’s agency division said: “Both these transactions are great news for Otley.

“Although the town currently has a few empty commercial units, new businesses and organisations are very much attracted to Otley and these two deals are a positive indicator that they will invest in the town which has a thriving and supportive local community that continually results in high levels of footfall.” 

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ONLINE reputation management company Ignyte has relocated to a landmark building after an expansion.

The business has moved from its premises in Shipley to a 2,400 sq ft office suite at The Calls Landing in Leeds.

Colliers International secured a lease agreement on behalf of landlord Citu and now just one unit remains available to let within the waterside building, which is also occupied by McGrath O’Toole, Liquid Recovery and Aspect together with the renowned Stew & Oyster Bar.

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LEEDS City Council has given the green light  for a new Asda supermarket, set to create up to 140 new jobs.

A spokesperson for Asda, which is building its new site in Beeston, West Yorkshire, said: “It’s great news that Leeds City Council has approved the proposal to build a new and improved supermarket on Old Lane, Beeston.

“Our plans represent a significant investment in this area and will generate substantial levels of local employment.”
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SKELWITH Leisure, owners of the Raithwaite Estate near Whitby, has announced the opening of its latest addition – The Keep.

The 28-bedroom build includes the Hunters Bar and Restaurant, meeting rooms, outside patio areas and panoramic views of the woodland on the Estate.
 
Skelwith Leisure managing director, Paul Ellis, said: “Everyone is delighted that The Keep is now open, not only is it a fantastic addition to the estate, but further signals our commitment to the local area.
 
“We have invested heavily in the estate to date and will continue to do so. We’ve started work on our new eco-lodges and, along with The Keep, these complement the original hall and spa.”
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LEASE events could create opportunities for both tenants and landlords, according to a commercial property expert.

Sheffield business Knight Frank said these events, rent review, lease renewal, lease expiry, don’t need to be seen as threats.

Andrew Godsall, a partner at the Sheffield office of the commercial property expert, said: “Lease events can be anything from a forthcoming rent review to a lease expiry or a break clause – but, regardless of their exact nature, they tend to prompt concern for those involved.

“At present we are seeing commercial economic pressure coming to bear on both landlords and tenants.  

“A good example is when a lease is approaching expiry. Assuming the tenant wants to stay, both parties could benefit in this situation. The lease can be renewed, the tenant may get an incentive to stay with agreeable rent renegotiations and the landlord retains the tenant on a potentially longer term lease. As such, lease events can often turn out to be very positive for both parties when proactively managed.”