Landmark Leeds Office Space for ┬ú36.9m Sale
Princes Exchange, landmark office space in Leeds, is due to be sold by current owners Canada Life and New Ireland Assurance.
The offices are home to big brand names such as serviced office provider, Regus, and legal consultancy firm, DLA Piper.
The eight-storey 108,000 sq.ft. office space is currently for sale at ┬ú36.9 million and promises to generate an minimum income of around ┬ú2.5 million in rent from leases that are not due to expire for at least another 12 years.
The skyscraper building at Princes Exchange won a City of Leeds Award for Architecture in 2000 and boasts waterfront city views and a range of on-site facilities. As local agents report, this iconic Leeds office space is not expected to be on the market for long.
ΓÇ£As the most prominent and iconic office building in Leeds, Princes Exchange represents an excellent opportunity for investors seeking prime product at a comparatively attractive yield in todayΓÇÖs market,ΓÇ¥ says Richard Lines of Gerald Eve.
ΓÇ£There continues to be genuine demand for the very best regional UK offices, provided the fundamentals are right. Princes Exchange is just such a property and understandably we have already received a high level of interest in the investment.ΓÇ¥
Elsewhere on the Blog…