£30m deal for Leeds office building

THE MINT, a 120,000 sq ft office building in Leeds, has been bought for more than £30m from develop Deltalord.

It is one of two purchases by institutional investor Patron Capital, which has also spent £75m on an office campus in Reading.

The Leeds deal, which is in partnership with asset managers Oxlo Properties, sees Patron take ownership of the grade A offices in Holbeck that are home to Asda and Dart Group. It fits the investor’s strategy of purchasing UK commercial property assets where it believes it can add value through asset management and investment.

Keith Breslauer, managing director of Patron Capital, said the acquisitions reflected its “strong appetite for quality office assets in regional locations with strong underlying demand fundamentals and opportunities to create value”.

It has invested £1bn since the start of 2013 and expects to invest a further £500m over the next two years in commercial property.