Buyer found for prominent mixed use investment in city centre
LS1 Headrow, a prime Leeds city centre mixed-use investment owned by Palm Assets, has been sold by Fox Lloyd Jones to Leeds-based property management and lettings company YPP for £2.6m.
The 12,444 square foot building, which spans 109 – 113 The Headrow, has a self-contained ground floor retail unit, with five upper floors of creative offices and secure basement car park. Tenants include WSP, Retail Express and Vortex Commerce.
Danny Bowers, chief executive of Palm Assets, said: “We were always confident there would be interest in the property as we received a number of approaches since we acquired the asset.
“It is a promising time for Leeds, helped with a renewed focus from Government in stimulating local economies in the north, and the city is well placed to benefit from the various initiatives.”
Director of Fox Lloyd Jones, Nick Salkeld, said: “YPP recognised the potential of this building as an income producing asset with long term redevelopment potential. With high quality specification and a strategic location on the Headrow, it has attracted and retains quality tenants.”
Othman Dakhil, from YPP, added: “It is a very exciting purchase for YPP within a prominent position in Leeds city centre and we hope to purchase more buildings in the future to expand our portfolio within such an exciting and developing city.”
Fox Lloyd Jones has now been retained by YPP, as leading agents, to market the vacant office suite of 2,917 sq ft on the second floor, which is divisible into small suites and available on flexible / all-inclusive arrangements.
