Leeds Metropolitan University property sold to Aviva PLC for ┬ú37.65m
Broadcasting Place, a property based in Leeds that is currently fully let to Leeds Metropolitan University on a 22-year lease, has been sold to Aviva PLC for ┬ú37.65m.
The 111,000 sq ft scheme on Woodhouse Lane features teaching and office space, which is currently occupied by 300 staff and 4,000 students from the Faculty of Arts and Society. The building was designed by architects Feilden Clegg Bradley and was completed in July 2009.
The former owners of Broadcasting Place, Liverpool-based property group Downing, have retained ownership of other parts of the University site, such as the 23-storey student accommodation building, Broadcasting Tower.
Paul Houghton, development director at Downing, said: “This strategic disposal marks the culmination of a very fruitful three months for Downing. It will allow us to build on the success of the UK Border Agency letting and the sale of Downing Plaza phase one, to move forward in 2010.”
“There is no doubt that this will be another tough year for the industry. However, the successful conclusion of these deals means we are in a strong position to take advantage of the significant opportunities presented by changing market conditions.”