Leeds office tower set for refurbishment | Offices.org.uk

Leeds office tower set for refurbishment

Posted on by John Cronin

One of the tallest office blocks in Leeds is set to undergo a refurbishment programme just months after ownership of the building changed hands.

West Riding HouseWest Riding House (pictured) is a 19-storey mixed-use tower block located in Leeds city centre that was constructed in the 1970’s. The current owners are joint-venture partners Moorfield Group, a real estate investment company, and Holbeck Land who are commercial property developers. The partnership purchased the office block in February from the administrative receivers of a Luxembourg private investment company. The purchase price was not disclosed.

The landmark, mixed-use building offers some 65,000 sq ft of retail space, a multi-storey car park and 76,000 sq ft of office space. For nearly 30 years West Riding House was the tallest building in Leeds. It lost this accolade in 2005 when the mixed-use, residential and office tower Bridgewater Place, nicknamed The Dalek, was topped-out.

Market reports indicate that approximately 43,000 sq ft of office accommodation remains unoccupied at West Riding House. Current tenants include Capita Business Services, the Court Service and recruitment consultancy Badenock & Clark. The new owners believe that the large floor plates of 5,100 sq ft within the building would be suited for corporate and professional tenants as well as those from the public sector.

Commenting on the acquisition, Marc Gilbard, CE of Moorfield, said: “A scheme of this size in such a prime location made West Riding House a very interesting investment opportunity. There is the scope to further asset manage this building by attracting new occupiers and exploring the opportunity to extend existing facilities.”

Office suites in the building starting at 1,500 sq ft have previously been marketed by agents King Sturge at a rental price of £13.50 / sq ft. Rental prices are expected to rise once the refurbishment is complete.

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