A former warehouse in the heart of Leeds has been turned into a hub for fast growing technology and creative companies.
The Leeds office of global property consultancy Knight Frank has brokered the final deal at the Concordia Works in Sovereign Street, Leeds.
Sandstone Technology, a global digital banking software company, has taken the 3,035 sq ft first floor of the building, which has undergone a £2 million transformation.
Sandstone, who have moved from the nearby Prospect House, are paying £25 per sq ft on a five-year lease, with a three-year break.
This deal means that the 13,922 sq ft five-storey Concordia Works, which was only launched to the market 12 months ago, is now full.
Sam Jamieson, of Knight Frank’s office agency team in Leeds, said: “We are delighted to welcome Sandstone Technology to one of the most exciting contemporary office
developments in Leeds.
“Sandstone is exactly the kind of successful, cutting-edge company that we believe is ideally suited to these magnificent offices.
“The 13,922 sq ft Concordia Works is a unique and striking property, set over five floors and situated just a short walk from Leeds City Station and the main retail heart of the city. Built in the early 20th century, this former yarn and cord warehouse has been refurbished by London- based developers BBRE with modern businesses in mind, while maintaining its existing structure and original period features.
“It is a striking endorsement of this iconic building that it is now completely full. It is home to some of the most exciting hi-tech, media and creative companies in the city, including Yonder Consulting, Caldero Ltd and Bark & Bite, the Yorkshire television and video company.
“In all my time as an office agent in Leeds, I haven’t seen an office building fill up so quickly.”
Richard Lewis, head of projects at Sandstone, said: “Our relocation to Concordia Works supports our rapid expansion in the UK on the back of winning some major deals with bank clients.
“We reviewed many alternative sites across Leeds city centre and Concordia Works trumped everything.”
This year Concordia Works won a major national honour in the British Council of Offices (BCO) Awards, when it was named the best new office in the up to 1,500 sq metres category, covering corporate, commercial, fit out and refurbished/recycled workplaces.
The judges said: “This former industrial warehouse has been transformed into a bright, contemporary business space, fusing original features with modern design. The exposed brickwork, trusses and iron columns help create a dynamic loft-style workspace.”
Eamon Fox, partner and head of Knight Frank’s office agency team in Leeds, commented: “The challenge for the property market is to keep pace with the changing face of technology; the latter is, on occasions, moving faster than the built environment can adapt to. The pioneering redevelopment of Concordia Works addresses this challenge head on.”
London-based developers BBRE are satisfying a pent-up need for trendy office space in the centre of Leeds, according to Eamon Fox of Knight Frank.
Mr Fox said: “BBRE spent £2 million on the radical refurbishment of a building steeped in the proud industrial heritage of this great city.
“This marvellous building could so easily have slipped into obscurity, but it has been restored and revived and is now a vibrant part of 21st century Leeds,”
The Leeds office of Knight Frank are the joint marketing agents for Concordia Works with the Leeds office of Savills.