Editor: Following various recent articles in Property Week we are delighted to see that sentiment for office development in Leeds
continues to grow.
We have been on site with our scheme Central Square, a development by Roydhouse Properties and Marrico Asset Management since 9 June 2014. Central Square will provide a £100m, 220,000 sq ft speculative grade-A, 11-storey office scheme on the former Royal Mail site on Wellington Street, 200m from Leeds City station.
This is the first speculative office scheme in Leeds for eight years and will be finished by May 2016.
This building has been designed and is being speculatively constructed to specifically target the growing number of occupiers who require footplates of 25,000 sq ft within the city. Additional features will include accessible public thoroughfares, a ninth-floor sky garden with city centre views, a central atrium and winter garden.
The last 12 months have seen the highest level of take-up of office accommodation in Leeds for over 13 years. The five-year average of 380,000 sq ft will be hugely exceeded. Yet there is less than 200,000 sq ft of grade-A office space available, all with smaller footplates than Central Square will have to offer.
Marrico and their backers are actively seeking other opportunities within the city to target buildings with smaller floorplates to Central Square.
Mark Barnes, managing director, Marrico Asset Management