Property deal secures University of Law’s new home
THE University of Law has taken a 15 year lease on 15/16 Park Row, relocating its Yorkshire training centre from York to the heart of Leeds’ legal and business district.
Wilton Developments and Clugston Estates, which manage the property on behalf of Barmston (Park Row), secured the deal to let the entire 26,300 sq ft, seven-storey building at £20.50 per sq ft.
The office was acquired by Barmston from M&G investments in August 2013.
The University of Law is making a £1.25m investment into the new centre, creating lecture theatres, workshops, library, café, study areas and a panoramic roof top terrace. It will open its doors in September, housing almost 50 staff and 400 students.
Jason Stowe, managing director of Wilton Developments, said: “We acquired the building in order to take advantage of the substantial demand and supply imbalance in the Leeds City Centre office market. Securing this deal so quickly, to such a high quality tenant on an unbroken 15 year lease is testament to the returning strength of the city’s prime office market.”
The University of Law is the world’s largest provider of professional legal training and courses offered at the centre will include the LL.B undergraduate law degree, the Graduate Diploma in Law (for non-law graduates wishing to move into the profession) and the Legal Practice Course (for aspiring solicitors).
David Johnston, chief operating officer for The University of Law, said: “Our new location in the heart of Leeds city centre will provide even more opportunities for aspiring young lawyers and enable law firms across the north to access high calibre next generation lawyers and the highest quality legal training for their staff.
“This striking building will ensure we can replicate the corporate setting of a professional law firm, enhancing students’ career prospects with its close proximity to more than 200 major law firms.”
Langley Solicitors acted for Barmston and DTZ was the letting agent.
The building was purchased for Barmston by Curtis and Co. Law firm DLA Piper acted for The University of Law and the Leeds office of Nathaniel Lichfield & Partners (NLP) handled the successful change of use planning application on behalf of the University.
