BAM gets permission for Leeds office block
Property developers BAM Construct UK have received planning permission for a multi-storey office block in Leeds.
BAM has secured planning permission for a second office at its Latitude scheme in the West End of Leeds. Permission has been granted for a new, 115,000 sq ft seven-storey office building although construction will only commence once a pre-let agreement has been agreed.
The building is to be initially called Latitude Blue and will be built next to an earlier 121,944 sq ft office development in Whitehall Road originally called Latitude Red (pictured). That building was sold in 2007 to IVG, a German property, in a £140m deal for a portfolio of 7 office buildings. Market reports have suggested that IVG has struggled to secure tenants for the building that has since been rebranded as No 1, Leeds. Indicative rental prices for the Grade A office accommodation are around £24 / sq ft. Marketing agents for the scheme are Knight Frank.
Latitude Blue will be built on a 10-acre site that could eventually offer in the region of 600,000 sq ft of Grade A office floor space in several buildings along with 650 residential apartments. BAM Director, Michael Smart, said of the proposed building: ‘This will be a high-spec development, designed and built to achieve a BREEAM ‘Excellent’ rating to deliver energy efficiency and low running costs.”
The company indicates it can offer flexible floor plans and fit-out specifications configured by the prospective tenant. A build lead-time of 18 months is quoted. Agents for the speculative scheme are BNP Paribas Real Estate.
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