New lettings at controversial Leeds offices

Posted on by John Cronin

New lettings have been secured at a Leeds office building that was last year under threat from partial demolition.

Toronto SquareCommercial property developers Highcross have announced the letting of 5,807 sq ft at their Toronto Square offices scheme (pictured) in the financial district of Leeds.

Highcross have secured a 10-year lease on 3,317 sq ft of floor space on the second floor of  Toronto Square to Franklin Templeton Global Investors Limited. A further 2,490 sq ft of floor space on the fourth floor has been let to The Bridge IT Limited, also on a 10-year lease. Rental prices of up to £24 / sq ft have been achieved.

The Toronto Square development was subject to a rights of light case after an additional 2 floors were added to the building. A potential outcome was a partial demolition of the building. However, a court hearing due to start last week was cancelled after a settlement was reached between the parties concerned.

The 90,000 sq ft office development makes use of a range of energy efficient technologies and has achieved a BREEAM rating of ‘Excellent’. The speculative scheme is a past winner of the ‘Office Development of the Year’ category of the national Estates Gazette Green Awards.

Highcross Senior Asset Manager, Iain Taylor comments: ““These are significant lettings, which give both occupiers a prestigious location in the centre of Leeds’ business district. Interest levels continue to be strong and we have recently agreed terms on a further 4,400 sq ft on the third floor of the building”.”

Joint marketing agents for the scheme are CB Richard Ellis and Knight Frank.

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