The Leeds office of global property consultancy Knight Frank has brokered a significant office deal in the Merchant Gate mixed-use development in the heart of Wakefield.
B38 Group, one of the UK’s fast-growing property support services companies, has signed a five-year lease for 6,683 sq ft sq ft of quality Grade A space at No.2 Burgage Square.
Knight Frank advised landlords, The English Cities Fund, which is a joint venture partnership between Muse Developments, Legal & General and Homes England.
Merchant Gate includes Grade A office buildings, prime retail and leisure facilities, 66 residential flats, a new public square, along with a 1,500-space multi-storey car park and a new college for performing arts, which is due to be on site early this year.
In addition, Merchant Gate is home to Wakefield Council’s civic offices, library and museum at the award winning Wakefield One. The office development is now full.
Sam Jamieson, of Knight Frank in Leeds, said: “We are delighted to have advised on this prestigious letting on behalf of The English Cities Fund, who have invested in the remarkable renaissance of Wakefield.
“Merchant Gate, and strategic schemes like it in the city, is changing people’s perceptions of Wakefield. The city, benefitting from substantial investment, a proud history and an excellent location, is no longer in the shadow of its larger neighbour Leeds.”
The offices at Merchant Gate are 1 Burgage Sq, 2 Burgage Square and Emerald House. Emerald House is let to HM Courts & Tribunals Service.
“B38 Group has taken the opportunity to move to the very best new office buildings in Wakefield. Rents are competitive with first-class facilities. The offices are close to Wakefield Westgate Station, on the main Leeds-London line, while prime retail facilities at Merchant Gate will make the development ideal for leisure as well as working,” added Mr Jamieson.
James Scott, development director, at The English Cities Fund, said: “the Leeds office of Knight Frank was appointed alongside the Leeds office of JLL to market the remaining space at Merchant Gate, because of its enthusiasm and superb track record.
“The English Cities Fund is delighted to be able to welcome B38 Group to Merchant Gate, with Knight Frank’s experience and expertise proving invaluable in securing this letting.”
B38 Group is moving from Denby Dale Road on the outskirts of Wakefield following several substantial contract wins.
B38 Group has UK revenues of around £12.5m with plans for significant further growth over the next 2 years. In addition to its Wakefield headquarters, it has two further operational facilities and depots across the UK.
Richard Phillips, Co-Founder of B38 Group, said: “Alongside an increased amount of self-delivery of services, the last six months have seen the business grow in line with both target and aspiration. We see the move into central Wakefield as an obvious next step to attract more talent who find accessing central Wakefield by train to be advantageous.
“We are certainly on a heavy recruitment drive at the moment and we are seeking to employ local people for a wide range of new and exciting roles.”
He added: “Operating in the hard and soft facilities services fields, B38 Group supply a range of managed facilities and property services to a unique and global client base across the retail, manufacturing and logistics, corporate, education and healthcare sectors.
The Leeds office of property consultants JLL are the joint marketing agents for Merchant Gate with Knight Frank.