Sale of £90m city centre mixed-use scheme put on hold

It is being reported the sale of one of Leeds city centre’s biggest available assets has been put on hold.

Northwood Investors had originally placed its Broad Gate development on the market back in February at a price of £90m.

However REACT news is now reporting the sale of the former Lewis’s store, which was refurbished and transformed into a retail and office scheme in 2009, has been put on hold “despite strong interest”.

It is understood the decision has been taken as a result uncertainty in the property market caused by the current coronavirus pandemic

The 300,000 sq ft Broad Gate scheme was acquired as part of a £635m investment by Northwood Investors in Highcross Strategic Advisers Limited five years ago. It is currently home to Colliers, KPMG and Yorkshire Building Society