Landmark building in £9.3m deal
A landmark office building in Leeds has been bought by a major property fund.
Wilton Developments and Clugston Estates, which manage the property on behalf of Barmston (Park Row), have secured the sale of the 15/16 Park Row offices to F&C UK Property Fund in a deal worth £9.3m.
The sale follows the company’s letting of the entire seven-storey building to the University of Law, which completed last year.
The university has invested £1.25m into the new centre, creating lecture theatres, workshops, library, café, study areas and a panoramic roof top terrace for its 50 staff and 400 students.
Nick Child, the development director at Clugston, added: “We swiftly secured a letting to a high quality tenant, the University of Law, on an unbroken 15 year lease. The agreement to sell the building so soon is testament to the returning strength of the city’s prime office market.”
BILFINGER GVA and Tim Cross, a partner at law firm Langleys, acted on behalf of Barmston in connection with the sale.