Barnsley Council buys office building

BARNSLEY Council is understood to have paid £20m to acquire a 96,000 sq ft office building in the town.

Quest Property and Landmark Development Projects have completed the deal with the Council at Gateway Plaza.

Barnsley Council was represented by DTZ in the purchase of the speculatively developed office building. Law firm Gordons represented the vendor.

Barnsley Council will join office tenant Berneslai Homes within the state-of-the-art building and existing Gateway Plaza occupiers Premier Inn, the NHS Health Centre and residents of the scheme’s 188 apartments.

Jason Brook, chief executive for Quest Property, said: “We developed Gateway Plaza on a speculative basis and are incredibly proud to have successfully delivered this complex, ambitious scheme in one of the most challenging of economic climates.

“We recognised an opportunity to contribute to the ongoing regeneration of Barnsley through bringing a high-quality, large scale mixed-use scheme to the heart of the town and to have realised our vision and ultimately secured a result such as this is a fantastic achievement.

“We have a range of exciting retail opportunities available at Gateway Plaza for retailers to join our successful existing occupiers and service the Council employees and the residents who are moving in on a daily basis into the newly completed residential element of the scheme, Plaza Quarter.

Chris Gilman, director of Landmark Development Projects, said: “Since work started on Gateway Plaza, the town has continued to evolve and the new amenities the scheme has delivered have served a genuine requirement within the transforming town.

“We have always maintained that we strived to secure a mix of national and local occupiers within the development and this significant deal further achieves that goal. We look forward to accommodating further residential tenants and retailers over the forthcoming weeks and months.”

Tim Cameron-Jones, investment director and head of DTZ’s Leeds office, said: “The success of Gateway Plaza will be a huge benefit to the whole town. It is an outstanding scheme and will provide a vibrant mix of complimentary uses. 

“This represented an opportunity for the Council to acquire very high quality offices at a sensible cost, together with the benefit of some investment income from existing tenants. DTZ were delighted to support the council in both the negotiations and technical due diligence.”