Landmark office building Toronto Square in Leeds is bought by Grosvenor Britain & Ireland, which has holdings in Belgravia

Grosvenor Britain & Ireland has today completed the acquisition of Toronto Square, a major office building in Leeds from a fund advised by J.P. Morgan Global Alternatives.

The building, provides 88,500 sq ft of Grade A office space and is 96% let to occupiers including CBRE, Bevan Brittan, Franklin Templeton and Quilter.

Grosvenor, which can trace its roots back to 1677, is one of the world’s largest privately owned international property companies. It played a leading role in the creation of Mayfair in the 1720s, and Belgravia 100 years later,

Keith Bailey, Investment Director, Grosvenor Britain & Ireland, commented: “Toronto Square is a highly respected sustainable prime office building, which has proven to be popular with Leeds occupiers.

"Following on from the recent refurbishment works undertaken by J.P. Morgan, we will continue to invest in the building’s amenities and environmental performance to maintain its reputation as one of the market’s landmark office locations as supply of new space tightens and levelling up opportunities increase.”

GBI’s Investment team actively manages a £1 billion UK property portfolio, comprising assets and projects outside of its Mayfair and Belgravia holdings.

In June 2021, Grosvenor completed its first acquisitions under the new strategy: 134 Edmund Street, an 85,000 sq ft office building in Birmingham’s central business district, and The Hive, an 80,000 sq ft office building in Manchester’s Northern Quarter. The portfolio also includes Grosvenor’s Strategic Land business and a stake in Liverpool ONE.

JLL acted for Grosvenor and Savills and CBRE for J.P. Morgan Global Alternatives. The terms of the transaction have not been disclosed.