Westminster Buildings: Historic grade-II listed Leeds city centre building set to be sold by council
A historic Leeds city centre building is set to be turned into housing after the council selected a buyer.
Grade II-listed Westminster Buildings, next to Kirkgate Market, was marketed for sale after Leeds City Council deemed it surplus to requirements.
The sale of the four storey former hotel, built in the 1870s, will raise cash to help the council plug a multi-million pound budget gap.
A council report said six bids were received and an unnamed buyer has been chosen for the site, currently used by businesses and council staff.
It said: “The sale of the property will generate a capital receipt and savings can be realised by avoiding future holding costs.”
Property agent Sanderson Weatherall was appointed to seek interest in the building.
The council said it decided a refurbishment of the building on New York Street would be too expensive.
A sale would be subject to a leaseback arrangement to allow council markets service staff to continue using an office at the site.
The council report said the building would be sold before the end of the current financial year.
It said: “The property is surplus to the council’s requirements and there is no operational justification for retaining the asset.
“The preferred bidder has expressed a desire to refurbish the building and convert part of it into residential apartments.”