Network Rail has received planning permission and listed building consent approvals from Leeds City Council to redevelop one of the city’s most prominent buildings, 1 Aire Street, into a quality office scheme.
The Grade II listed building, which boasts stunning art deco elevations, occupies a coveted position directly above Leeds Train Station, adjacent to the Queens Hotel and fronting City Square.
With a finished value in the order of £9 million, the refurbishment will preserve the special character of the building and create 30,605 sq ft of high quality office accommodation over ground and six upper floors as well as a new entrance within the Northern Concourse of the station.
The redevelopment will provide Leeds City Centre with a much needed supply of smaller office suites in the heart of the city’s business District.
Typical floor plates will be 5,317 sq ft in two suites benefitting from a stylish and secure modern reception and fully refurbished common parts. Enabling works have already been completed, and the full refurbishment will commence in March 2013 with a completion date of Autumn 2013.
David Biggs, director of property at Network Rail, said:
The 1 Aire Street scheme will provide Leeds with top quality office space in one of the city’s best connected locations alongside a thriving rail hub with over 36 million visitors each year
1 Aire Street is not only a great example of Network Rail working to release value from our existing portfolio, but also bringing historic buildings back into full economic use. All profits from Network Rail’s commercial activity are reinvested in the railway, limiting the cost to tax payers and passengers.
Jonathan Shires, Director of Office Agency at CBRE Leeds, said:
1 Aire Street occupies what could easily be described as the best city centre location in terms of accessibility being directly above Leeds station. The building’s prominence to City Square and impressive art deco elevations will be complemented by a thoroughly modern internal redevelopment offering occupiers something completely new for Leeds.