Trio of lettings deals agreed at refurbished offices

Three new office deals comprising over 13,000 sq ft have been unveiled at the Coach Works, in Leeds city centre.

The deals follow an extensive refurbishment to provide new Grade A workspace at the site on The Calls.

Software solutions delivery company, Abstract Tech, has agreed a six-year lease to occupy a 5,308 sq ft unit on the first floor of the Coachworks building number 2 (CW2).

Canal & River Trust has also secured a deal to take the remaining 4,560 sq ft on the first floor of CW2 over a lease of ten years.

And WEA has taken a ten-year lease for 3,304 sq ft studio on the first floor of CW1.

The latest news follows a deal to let the entire top floor of CW1 to Pentest People. The growing independent security provider relocated all of its 70-strong team following a 60% rise in revenue last year.

Abstract Tech specialises in Azure cloud migration, re-platforming and business systems integrations and Abstract Talent is a specialist technology recruitment agency offering tailored recruitment and candidate sourcing services to the technology industry. It also has offices in United Arab Emirates and India.

Jonathan Wright, co-founder and CEO of Abstract Tech, said: “Having experienced significant growth over the last three years, coupled with the lifting of restrictions after the pandemic, we are pleased to secure our new HQ at the Coach Works Leeds.

“We were looking for a fresh and exciting space that gave us easy access and great facilities with flexibility as we look to welcome the team back into the office next month.

“We also want to host clients and community partners alike, enabling them to visit and share in the benefits of in-person collaboration.”

The Coach Works is the result of major investment by Regional REIT to transform over 41,000 sq ft of Grade A workspace that was formerly known as Chancellor Court at 21 The Calls, Leeds.

The development comprises two buildings, with current occupiers including St James Place Wealth Management.

Ben Mitchell, associate director of asset management and head of office in Leeds and Manchester at London & Scottish Property Investment Management (LSPIM) said: “We are happy to agree three further strong tenancies following the extensive redevelopment of this prominent office location.

“The Coach Works is one of our prime assets with an unrivalled location and heritage, offering readily available space to facilitate a speedy process for occupation,”

Elizabeth Ridler, partner at Knight Frank which is marketing The Coach Works, added: “The Coach Works redevelopment provides a raw backdrop of exposed features and high-specification fixtures that are popular with the creative and tech businesses clustered in the area.

“Considerable time and attention to detail has also been invested with major alterations in consideration of the pandemic and safer environment expectations.

The Coach Works is owned by Regional REIT. London & Scottish Property Investment Management (LSPIM) asset manages the portfolio on behalf of Regional REIT.

Two suites of 2,960 sq ft and 3,410 sq ft remain available to let. Knight Frank and Cushman & Wakefield are marketing the scheme.

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