Kenmore Property Group has bought the six-storey Merton House office building in Leeds city centre for £6.8m from Royal London Assset Management.
The Edinburgh-based property company is planning a refurbishment of the 21,000 sq ft building which is the UK headquarters for stock brokers Redmayne Bentley.
Investing in Yorkshire
‘Despite current economic uncertainty Kenmore remains committed to investing in commercial property within the Yorkshire region,’ said Ben Moorhouse, investment director at Kenmore. ‘Merton House is a well located building within the prime retail core, which provides the opportunity to add value through active asset management.’
Since opening the office in Leeds Kenmore has bought City House from Mordril Estates for around £15m, Bridge House from Sterling Capitol for around £9m and 1 North Bank in Sheffield from Priority Sites for £13.3m.
Steadman Brierley acted for Kenmore and Jones Lang LaSalle advised Royal London Asset Management.