Investors snap up Leeds city centre offices for £8m
A REAL estate investor has acquired The Bourse office complex in the centre of Leeds for £8m.
Paloma Real Estate Fund 1, advised by Paloma Capital, have acquired The Bourse from Yorkshire property developers Opus North.
The site, on Boar Lane, comprises of 50,000 sq ft of office and retail space in three buildings: Equity House; Sterling House and Bond House. The acquisition represented a yield of 9%.
Sterling House is fully let. There is 3,850 sq ft of office space available in two suites in Bond House and Equity House.
Its 20 tenants include multi-national office occupiers and retailers including William Hill, Evans Cycles, The Private Office, JLT, Robert Half and Allport Cargo Services and two convenience food operators.
Jack Pitman, founding partner of Paloma Capital, commented: “The building is in a great location in the commercial and retail heart of Leeds, half way between the entrance to the Trinity Quarter and the station. Behind the beautiful, listed façade is a well laid out, modern building that should benefit from the significant capital investment that we are planning to make.”
Andrew Duncan of Opus North added: “On a personal note, I have fond memories of The Bourse, having had offices there with my former firm of property consultants Grenville Smith & Duncan in the 1990s and we were also the original letting agents for the building”.
Paloma Capital were advised by the Leeds office of global property consultancy Knight Frank.
Henrie Westlake of Knight Frank, commenting on behalf of Paloma: said: “The Bourse is situated in an excellent and improving location and Paloma will be looking to actively manage the building to further enhance the ‘tenant experience’.”
Opus North were advised by Cushman and Wakefield and Singer Vielle.
A REAL estate investor has acquired The Bourse office complex in the centre of Leeds for £8m.
Paloma Real Estate Fund 1, advised by Paloma Capital, have acquired The Bourse from Yorkshire property developers Opus North.
The site, on Boar Lane, comprises of 50,000 sq ft of office and retail space in three buildings: Equity House; Sterling House and Bond House. The acquisition represented a yield of 9%.
Sterling House is fully let. There is 3,850 sq ft of office space available in two suites in Bond House and Equity House.
Its 20 tenants include multi-national office occupiers and retailers including William Hill, Evans Cycles, The Private Office, JLT, Robert Half and Allport Cargo Services and two convenience food operators.
Jack Pitman, founding partner of Paloma Capital, commented: “The building is in a great location in the commercial and retail heart of Leeds, half way between the entrance to the Trinity Quarter and the station. Behind the beautiful, listed façade is a well laid out, modern building that should benefit from the significant capital investment that we are planning to make.”
Andrew Duncan of Opus North added: “On a personal note, I have fond memories of The Bourse, having had offices there with my former firm of property consultants Grenville Smith & Duncan in the 1990s and we were also the original letting agents for the building”.
Paloma Capital were advised by the Leeds office of global property consultancy Knight Frank.
Henrie Westlake of Knight Frank, commenting on behalf of Paloma: said: “The Bourse is situated in an excellent and improving location and Paloma will be looking to actively manage the building to further enhance the ‘tenant experience’.”
Opus North were advised by Cushman and Wakefield and Singer Vielle.
