Planning Permission Secured for Leeds Office Space Development
Planning permission for a new 115,000 sq ft 7-storey office property has been approved for the west end of Leeds.
The building will be developed by BAM Properties who are set to undertake the design, construction and management of the scheme via the company’s various internal sectors.
Known as Latitude Blue, the site marks the company’s third office development in Leeds, behind Lateral – a 96,000 sq ft office building, and Latitude Red, which features 121,944 sq ft of space.
According to the Yorkshire Post, BAM Properties development director Michael Smart commented:
“This will be a high-spec development, designed and built to deliver energy efficiency and low running costs. It will have everything you would want from a prime development in the heart of a thriving international city but at a lower cost than you would expect.”
BAM are planning to start construction as soon as a prospective buyer has been found.
A spokesperson for BAM said:
“This planning permission means we’re in a strong position to commence the building if and when we attract an occupier for the new building, Latitude Blue.
“It is a speculative building, as with nearly all our developments, and its strong environmental credentials are what usually attracts our clients. Recent occupiers include Nike in Scotland and BSkyB in Stockport.”
Elsewhere in Leeds, West Riding House in the city centre has been sold to the Moorfield Group for a reported ┬ú48m. This is said to be the city’s second biggest deal in the last 12 months, following the sale of 1 Whitehall Riverside for ┬ú51.3m in February 2010.
The 15-storey property offers 140,000 sq ft of office space but according to reports, around 40% of this is currently vacant. Tenants include Capita and recruitment firm Badenoch & Clark.
Marc Gilbard, chief executive of Moorfield, said:
“A scheme of this size in such a prime location made West Riding House a very interesting investment opportunity. There is the scope to further asset manage this building by attracting new occupiers and exploring the opportunity to extend existing facilities.”