Private buyer acquires prominent, listed city centre building

International real estate advisor Savills – on behalf of a private client – has acquired the Thornton’s Buildings in Leeds city centre for £4.10m from Town Centre Securities.

Totalling 13,580 sq ft, the Grade II listed building comprises seven shops at ground floor level with 17 self-contained residential apartments above.

Retailers within the property include Whittard and Greggs, both of which have recently completed lease renewals.

Located at a prominent site at the junction of The Headrow and Lands Lane, the property is situated at the heart of Leeds’ retail hub, with multiple stores nearby, including Matalan, Sainsbury’s, Argos and TK Maxx.

Simon Lister, investment director at Savills Leeds, said: “With good sized commercial units, affordable rents and a robust mix of residential and commercial income, Thornton’s Buildings is an excellent acquisition for our client where we anticipate both capital and rental growth as the retail sector reopens and gathers pace.”

Following the sale, Savills Leeds Retail Team has also been appointed to provide asset and leasing services on the ownership.

Josh Howe, associate director in the retail team at Savills Leeds, added: “This iconic building in an established location offers great opportunities for national brands and regional operators seeking a prime city centre store.”