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Building sold and leased at development
A NEWLY built three-storey office building in Wakefield has been sold and leased in a double deal which will boost the city’s Merchant Gate development.
Emerald House, pictured, has been sold for £3.25m at the same time as it has been let to a new tenant.
The £140m Merchant Gate development has tranformed land close to Wakefield Westgate railway station by creating 47,000 sq ft of office space, as well as 35,000 sq ft of retail and leisure developments, 66 apartments and a multi-storey car park. A new building at the railway station is also set to be built.
Emerald House has been let to Her Majesty’s Court and Tribunal Service to bring together Wakefield and Pontefract courts.
The lease was undertaken for the Merchant Gate developer English Cities fund by leasing agent Jones Lang LaSalle with DTZ acting for the court service.
ECf has also sold the building to York-based Helmsley Securities Ltd for £3.25m. David Wells, development director for ECf, said: “There has been a lot of speculation over the general commercial property market recently. Being able to retain office tenants in the city of Wakefield and also bring in new investors by selling the building demonstrates that the Merchant Gate scheme and Wakefield offers a great opportunity for businesses to acquire brand new offices in an excellent location.”
Coun Denise Jeffery, Wakefield Council’s deputy leader and cabinet member for regeneration, said: “It’s great that all the hard work on this major regeneration scheme is continuing to move forwards.”
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Saturday 26 May 2012
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