“Buoyant” market sees start of £1m refurbishment

WORK has begun on the £1m refurbishment of a 20,050 sq ft office building in Leeds.

34 Lisbon Street is owned by V+UK, a fund managed by Valad Europe.

They are refurbishing the whole building, bringing in office fit out specialists Absolute Contract Interiors. The works are being overseen by Crowther Turnbull Booth, and are scheduled for completion in early 2016.

Nigel Gray, head of UK Asset Management Valad Europe, said: “This refurbishment makes 34 Lisbon Street a very attractive proposition to the market and will be of interest to occupiers looking to secure high specification value for money office space within the city centre.

“The building will be enhanced by a new glass entrance to give it even more prominence and presence on the street.”

“Valad is undertaking a high quality office refurbishment in response to the buoyant city centre office market conditions,” added Richard Thornton from joint leasing agents JLL. “The timing is ideal to capitalise on the current supply pressures for good quality space.”

Jonathan Gale from joint leasing agents Bray Fox Smith said: “We are already experiencing a good level of interest and are confident that, thanks to this level of investment and our flexible approach to lease terms, the building will now appeal to a broad spectrum of occupiers.”