Lockdown deal for 3,135 sq ft of office space
A lease has been agreed for 3,135 sq ft of office space at the Central Park development, in Leeds.
Pre-media services business Rivendell Europe has signed a five-year lease at a rent of £17.50 per sq ft at the self-contained London House on the park.
This deal, finalised during the COVID-19 lockdown, means Central Park is now fully let.
The deal at Central Park, which is owned by regional office fund Squarestone Growth, was brokered by the Leeds office of property consultancy Knight Frank.
Sam Jamieson of Knight Frank, who represented Squarestone Growth, said: “Since Squarestone bought the park in 2017, occupancy has risen from 20 per to 100 per cent.
“It’s a resounding testament to the rolling investment and refurbishment programme, carried out by the Knight Frank Building Consultancy team, that Squarestone has implemented.
“Rivendell has made a major commitment to Central Park, which is perfectly located immediately south of Leeds Station and close to the River Aire.
“We are especially pleased to have concluded this deal in the middle of the Coronavirus crisis.
“It proves that the market hasn’t completely ground to a halt and that firms such as Rivendell are planning for the future in these testing times.”
Paul Coulter, founding partner of Squarestone Growth, said: “We are delighted that Rivendell have committed their future to Central Park.
“This is a ringing endorsement of the development and supports our comprehensive investment programme to upgrade the site and to appeal to modern occupier needs, whilst providing cost-effective space in a superb central location.”
Rivendell produces a variety of pre-media services to the packaging and home shopping retail markets including photography, design, artwork, colour and content management, web enabled services and plate making for printing.
Ben Edwards of Rivendell explained that the company was coming to the end of the lease at its current Leeds premises.
He said: “The existing facility is over two floors and we preferred an open-plan environment over one area.
“With Central Park the layout, specification and location, with on-site parking, ticked all of the boxes for us. We are delighted with our new base at Central Park, where we will have 38 staff.
“Altogether Rivendell operates out of four different locations, two in Leeds – one in the city centre and one in West Park. The others are in Manchester and Spalding.”
Other tenants at Central Park include Estio Training, Smiffys, QBE and Unisys. The Leeds office of Knight Frank are the sole letting agents for Central Park.