Continued strong demand for office space amidst pandemic
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Sustained demand for office space at Leeds’s Marshall’s Mill and The Round Foundry has continued over the last 12 months, with five new tenants arriving and three tenants renewing their leases.
The deals were managed by joint agents for the scheme, Creative Space Management and Knight Frank.
New arrivals are construction specialist McGinley CEP Ltd which has taken a 618 sq ft office in the first floor annex of Marshall’s Mill on a three-year lease.
It is joined by IT infrastructure technology specialists WhiteSpider Ltd agreeing terms on a five-year lease for 1,100 sq ft space on the fourth floor and Sir Robert McAlpine (SRM) claiming 960 sq ft at The Engine House, Round Foundry.
Also committing to Marshall’s Mill is world’s largest fancy dress costume manufacturer, Rubies Masquerading Co, which has agreed to a 10-year lease for 2,875 sq ft on the ground floor, while managed security services provider Talion (formerly Sy4 security) has agreed a four-year lease on a 3,521 sq ft office location on the ground floor.
A further three tenants have renewed leases at Marshall’s Mill with marketeers All Response Media (ARM) taking out a five-year lease on its 3,900 sq ft fourth floor office space.
Additional estate renewals have come from landscape design and environmental consultancy Urban Wilderness, which secured its 780 sq ft self-contained unit at No 7 Saw Mill Yard.
Leadership and team trainers Redsky Learning has renewed its lease for a further five years on 1,184 sq ft space at No 8. A total of 5,864 sq ft has been renewed.
Alex Bretten, senior associate for Workman LLP, which manages the Marshall’s Mill estate on behalf of landlord Hermes Property Unit Trust, said: “There has been a lot of talk about the demise of the city centre office because of the lockdowns, but both Marshall’s Mill and The Round Foundry have seen strong interest from would-be occupiers throughout the last 12 months.
“The fact that three of our existing tenants have all committed to new leases of between three and 10 years is a superb endorsement of what these iconic estates have to offer.
“We are now seeing real momentum with more clients and their employees returning to their offices, and we will only see that strengthening over the coming weeks now the Stay at Home order has been rescinded and the city centre heads towards a full retail and hospitality opening.”
Dan Mowbray, of All Response Media, added: “We have now been in Marshall’s Mill for almost 10 years and the wider estate for 15.
“We have loved the location from the off, with great space for creativity and a fantastic set of neighbours and community.
“The transport links are second to none but the regeneration over the years has just been spectacular meaning our staff have access to a wide array of choice for food, beverage and socialising.”