City centre office building sold for £8.4m

15-16 Park Row in Leeds has been acquired by Corum XL, a fund managed by Corum Asset Management from clients of BMO Real Estate Partners for £8.4 million.

The modern, high specification office space covers approximately 26,542 sq.ft over seven floors, is located in the prime office core of the city centre and is fully let to University of Law Ltd for a further eight years at a passing rent of £565,000 per annum.

Mark Wilson, director in the investment team at Savills Leeds who worked on deal, said: “15-16 Park Row occupies a highly prominent position on Park Row, within Leeds prime office core which is home to major financial and legal companies. This acquisition offers well priced income with longer term reversionary potential.”

Graham Foxton, partner at Knight Frank acted for BMO Real Estate Partners