Terms agreed for KPMG move
ACCOUNTANCY firm KPMG has agreed terms to occupy a new 60,000 sq ft office development in a prime city centre location.
Sovereign Leeds Ltd (SLL), a company established by property professionals Mark Hancock and Mike Heydecke, has exchanged an agreement for lease with Leeds City Council in relation to the first plot of the Sovereign Street development site in Leeds, which will be occupied by KPMG.
Muse Developments will provide SLL with funding for the scheme and will also develop it.
KPMG’s new Yorkshire headquarters, which will see the firm relocate from a nearby office building in Leeds, will be the first of three buildings on the site.
The scheme will also include public space on Sovereign Street, the site of the former Queen’s Hall.
London-based architect, Scott Brownrigg, has been appointed to design the building. The first artist’s impressions of how the KPMG offices could look were presented to Leeds City Council planning officers yesterday.
David Wells, development director at Muse Developments, said: “We are very excited about the opportunity for Muse to undertake its first major office development in Leeds city centre and we look forward to working closely with our partners to deliver one of the few pre-let, Grade A, office buildings to be proposed in the city over the next few years. “
Mr Heydecke, of SSL, said: “The detailed planning application for this development will be submitted in August. This deal with Muse provides the company with sufficient financial resource and a development platform to embark upon this major office development which is a significant landmark for the city of Leeds and the regeneration of this area of the city.”
Coun Richard Lewis, Leeds City Council’s executive member for city development and the economy, said: “The Sovereign Street development provides a really exciting opportunity to create an high profile business and leisure environment in the heart of Leeds City Centre which will bring investment as well as employment opportunities.”
Construction of KPMG’s building is scheduled to commence in summer 2013 and for relocation to be completed by autumn 2015.
Chris Hearld, KPMG’s senior office partner in Leeds, said: “Sovereign Street has the potential to offer KPMG an exciting relocation opportunity. We are looking forward to seeing the proposals for the building and the public realm progress over the next few months.”
Sovereign Street has been a council-owned car park since the Queen’s Hall was demolished in 1989.
