Major pre-let deal agreed for landmark city centre office scheme

Barnett Waddingham, an independent UK professional services consultancy, is taking 14,000 sq ft of office space at developer MRP’s City Square House in Leeds.

The 15-year pre-let lease was brokered by the Leeds office of global property consultancy Knight Frank.

Barnett Waddingham, which is relocating from within Leeds, focuses on risk, pensions, investment and insurance.

City Square House is a 140,000 sq ft speculative development and the only remaining undeveloped property fronting City Square.

Once finished, it will comprise Grade A office accommodation over 12-storeys including low carbon credentials, terraces on the fourth, fifth and sixth levels and extensive cycling, electric vehicle and e-bike charging point facilities. 

Practical completion of this building, built by Design & Build contractors McAleer & Rushe, is scheduled for early next year.

Barnett Waddingham will be joining global law firm DLA and Markel, an SME-focused expert in providing integrated insurance, tax and legal services, in the building. Together, these two companies have taken a combined total of 103,000 sq ft.

Angus Monteith, development director at MRP said: “We are pleased to welcome a company with such an excellent reputation as Barnett Waddingham to City Square House.

“This latest signing means the development is now 85% pre-let with a final 22,000 sq ft available. 

“Securing a 15-year pre-let deal is a very significant and positive statement of intent in the long-term future prosperity of office space in Leeds and, indeed, in urban centres throughout the UK.”

Eamon Fox, partner and head of office agency at global property consultancy Knight Frank in Leeds, advised the landlord. 

He added: “The Barnett Waddingham deal completes a magnificent hat-trick of high calibre companies moving into City Square House.

“It is the iconic new office development that the Leeds market has been waiting for. It is in a prime position, just off City Square and next to Leeds Station, and the remaining available space of 22,000 sq ft will help address the pressing need for quality Grade A office space in the city centre.

“This is a significant deal for the city of Leeds, a vote of confidence in the city and its economy.

“The regeneration of the city centre of Leeds is now paying dividends for the city’s economy and reputation.”

Earlier this year, Tom Riordan, Leeds City Council’s chief executive, said: “It’s brilliant to see the progress being made on City Square House which is one of the most prominent locations in Leeds city centre.

“Further investment into commercial space, record cranes on our skyline and the growing appeal of Leeds to global businesses, shows how our great city is really continuing to thrive economically.”