Leeds-based Akbar Property Investments has acquired a prime office space in the heart of Leeds’ vibrant business district after purchasing One Park Court in a six-figure deal.
The swift sale of the four-storey, 3,805 sq ft building on 42 Park Cross Street in the city centre, was conducted by strategic property and construction advisors, Fox Lloyd Jones on behalf of local property development and investment company, Countrylarge.
Countrylarge had owned and managed the property since 2019 and recently secured a ten-year lease to flexible workspace provider, Wizu – guaranteeing Akbar Property Investment an initial seven per cent net rental yield.
Having overseen a recent refurbishment at One Park Court, which is conveniently located near to Leeds train station and major bus routes, Wizu will now provide modern serviced office, co-working and meeting room facilities to businesses across the city.
Mohammed Akbar, owner of Akbar Property Investments, said: “One Park Court’s superb location adjacent to Park Square and Wizu’s exciting vision for the property made this a very attractive investment opportunity. I’d like to thank all parties involved for making this such a seamless purchase.”
Antony Rosindale, on behalf of Countrylarge, said: “Having instructed the team at Fox Lloyd Jones earlier in the year, we’ve been hugely impressed with their handling of the sale and the advice and guidance they’ve provided throughout the process.”
Harry Finney, senior surveyor at Fox Lloyd Jones, said: “Given the high demand for office space close to Park Square and the increased need for flexible workspace in Leeds, One Park Court represents a terrific investment opportunity and we are confident it will perform well for Akbar Property Investments.”