┬ú30m Hotel and Office Development in Leeds
A ┬ú30m Leeds city centre development could see the construction of a 130 bedroom hotel and 50,000 sq foot of grade A office space, pending a planning application.
The joint venture between Gregory Projects and Marshall Construction is located in the south of the city, in the immediate vicinity of Leeds train station on Whitehall Road.
Richard Tovey from Gregory Projects commented that “this is a prime development opportunity that will draw interest from blue chip businesses seeking a very short walk to the railway station.”
Premier Inn has agreed to operate the hotel, with DTZ and Weatheralls jointly marketing the office space.
DTZ’s Adam Cockroft believes that “Leeds remains one of Europe’s top business destinations and still enjoys healthy demand for high quality office accommodation, despite the economic downturn. This development is in an excellent location and offers an opportunity for potential occupiers to influence the design and layout of their office space and also enjoy an on-site hotel for guests and employees.”
Jeffrey Peaery, Head of Jones Lang LaSalle’s Leeds office has commented that the commercial office market in “Leeds retains its competitive edge nationally, with a good range of Grade A stock still on offer, and rents that compare favourably with the likes of Manchester, Glasgow and Edinburgh. Enquiry levels for office space have improved over the first half of 2011 and we anticipate stronger market activity this year in comparison to 2010, this bodes well for anyone contemplating launching an office refurbishment or indeed planning ahead for more substantial developments in the city.”
officebroker.com has observed a contrast in the serviced office sector, with a drop in enquiries and deals across Leeds, during Q2 2011 in comparison with the same period last year. This trend was also reflected across the Yorkshire and Humberside region, where respective drops of 13% and 26% in enquiries and deals were witnessed.
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