St Johns Centre Leeds up for sale for £33m

The St Johns Centre in Leeds is up for sale

By Joe Cooper
Saturday, 8th May 2021, 1:26 pm

The centre, one of the largest mixed-use developments in Leeds has been placed on the market for £33m.

The 2.5 acre site, which includes retail, office and leisure facilities, is currently owned by the Cromwell Property Group.

Cromwell has appointed the Leeds office of global property consultancy Knight Frank to market St Johns.

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The St Johns Centre.

The building is made up of offices on the upper floors, most of which is occupied by bookmakers William Hill

The betting giant has just signed a new 10 year lease and has around 1,000 employees in Leeds.

Other office occupiers include the NSPCC.

The centre, which generates almost £3m a year in rental income, is also home to a multi-storey car park.

Tenants inside include McDonalds, Poundland, Subway, the Card Factory and the Post Office.

Graham Foxton, investment partner with Knight Frank in Leeds, said: “The immediate vicinity of St Johns has seen a significant amount of regeneration in recent years with some

4,000 new student beds opening close by between 2020 and 2022 with more in the pipeline.

"St Johns also offers the opportunity to extend above the existing building, opening up development potential to residential, a hotel and other uses.

He added: “We are very excited about the sale. Cromwell have been a worthy custodian of the scheme over the last six years and whilst St Johns has been a big part of my life and the

most of the rest of the population in Leeds given its dominant location in the city centre, I am very keen to see the next stage of its development.

“The Northern Quarter has changed beyond recognition over recent years with the Leeds Direct Arena and the newly constructed private sector student accommodation.

"The potential development of St John’s will add to the quarter’s renaissance.

“On a more general point, this site is one of the largest mixed-use schemes to come forward in Leeds in recent months and several of these have been attracting strong interest.

"It is fair to say that ringing St John’s to the market demonstrates a healthy and well-founded confidence in the current real estate market in Leeds”.

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