Letting means property will be converted into state-of-the-art IVF facility
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Yorkshire property development and investment company Sterling Capitol has let 1 Sterling Way at Capitol Park, Leeds, to IVF specialists Create Fertility,
The deal was brokered by the Leeds offices of property consultancies JLL, Carter Towler and Knight Frank, who represented Sterling Capitol.
1 Sterling Way has been extensively refurbished to provide a distinctive self-contained office building in Capitol Park, comprising 4,862 sq ft of Grade A office space.
Create Fertility has taken a 10-year lease over the whole building, which is being converted to provide IVF facilities.
Paul Beckett, head of development at Sterling Capitol, said: “This is an important deal for us, as we build back from the pandemic.
“We are delighted to welcome Create Fertility, who have an excellent reputation as one of the leading IVF specialists in the UK, providing such a critical parenting service using the latest technology and techniques.
“They join premium occupiers including Barratt Homes (HQ), Hermes, the 4*Village Hotel, Depuy, Henderson Insurance Services and NHS Shared Business Services at Capitol Park and add to the attractive diversity of companies on site.
“Capitol Park Leeds, by Junction 28 of the M62, is one of the brightest success stories in the Yorkshire business parks sector and we are proud that we continue to attract first-class tenants.
“We are now looking to build on this success as the post-pandemic economy gathers strength with the Leeds region out-of-town office market especially buoyant.”
Richard Thornton, director specialising in office agency with JLL in Leeds, added: “This is a significant deal for the out-of-town office market in Yorkshire, underling that there is a healthy appetite for well-located and attractive properties like 1 Sterling Way.
“As we emerge from lockdown, there are encouraging signs in the office market with general levels of enquiries and viewings on the up.
“As companies start to assess their occupational requirements, they may well take less space but they are looking to upscale in terms of quality.
“1 Sterling Way was well-placed to capitalise on this demand and it’s no surprise that Create Fertility have taken this excellent building.
“Meanwhile Sterling Capitol has begun the extensive refurbishment of the nearby 9,700 sq ft 1 Sterling Court, formerly the home of Real Radio, and will be looking to capitalise on the confidence in the flourishing out-of-town Leeds office market.
“The resurgence of the out-of-town market has been a key feature of the post-lockdown Leeds office market, with the combined take-up total for the last nine months nearly triple the level of activity seen across the whole of 2020.
“With the city centre also performing strongly, we are confident these levels of occupier activity will continue into 2022 and beyond, as businesses continue to decant from older accommodation into better quality space.”
Create Fertility was represented by London-based property consultancy Alexander Reece Thomson.