Property firm secures city centre deal
AVTAR Properties has bought a portfolio of properties covering a series of addresses in the centre of Leeds.
The deal, for an undisclosed sum, includes buildings on The Headrow, Park Square, Hanover Square and Blenheim Terrace.
Avtar Properties owner Avtar Singh Thethi said: “Today marks the next step in the growth of our company. I came to Leeds in 1966 with £3 that my parents had given me. I went to school for six months and left at the age of 15 as I knew I had to work to make ends meet. Since then I have been working in the sector for more than 40 years and am always looking for opportunities to expand and grow the business.
“We are currently in a driving position and looking to acquire more commercial and larger properties in the near future. We have also recently completed two large modern office spaces on Park Square in excess of 13,000 sq ft. We are also about to commence a city centre refurbishment consisting of one, two and three bedroom flats, office suites and a restaurant over ten floors in a prime location in central Leeds.”
The deal was secured with the support of funding from Santander Corporate Banking.
Graham Yates, relationship director at Santander Corporate Banking, said: “With Avtar’s expertise in the sector and strong management skills, he is set to make a great success in this next stage of the company’s growth.
“We look forward to developing our relationship going forward. And credit to the team at Schofield Sweeney who worked so tirelessly to complete the transaction in such a short space of time.”
Law firm Schofield Sweeney advised on the deal. Restructuring and banking partner Amar Rashid said: “Our commercial property team worked hard to ensure the transaction completed within a short time scale – an extremely successful result for all those involved.”
