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Edward Symmons completes £6.5m investment deal at Thorpe Park, Leeds

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The Leeds office of Edward Symmons has sold Buildings 1175, 2100 and 2200 at Thorpe Park, Leeds for £6.5m to Commercial Estates Group.

Tenants of the buildings include IBM, Balfour Beatty Group Plc, Mitie Facilities Services (part of the FTSE 250 Mitie Group Plc) and the fashion retailer, Republic (in administration).

The multinational infrastructure contractor Balfour Beatty Group Plc recently signed a 10 year lease to occupy the ground floor of the newly refurbished Building 2200.

Next door at Building 1175, Mitie Facilities Services occupy the entire first floor of 16,000 sq ft on a recently completed lease while Republic occupy all of Building 2100 which serves as  their Head Office.

In recent months Edward Symmons sold three further buildings at the park with vacant possession to owner-occupiers. Sovereign Wealth and Boost Drinks each acquired a 4,100 sq ft and Help-Link UK purchased a 10,000 sq ft building.

Richard Corby, Partner and Head of the Leeds office of Edward Symmons said:

The acquisition of Buildings 1175, 2100 and 2200 represents a sound investment as these properties currently command a total annual rental income in excess of £1m.

Commercial Estates Group were no doubt attracted by the high calibre tenants at the Park as well as the Park’s prominent position, adjacent to Junction 45 of the M1 and close to Leeds city centre.

There has been much interest in the Park since the beginning of the year and that looks set to continue. Of the 100,000 sq ft of space in the three buildings purchased just 18,000 sq ft remains vacant, and as that has recently been refurbished I do not expect that will be the case for very long.

Edward Symmons are the sole agents acting for Law of Property Act Receivers appointed on eleven buildings at Thorpe Park. Brackenbridge Hanson Tate represented Commercial Estates Group.

 

 


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