Newpark Group buys £3.25m Thorpe Park office
The Manchester-based real estate company has acquired 2150 Century Way, a 31,500 sq ft grade A property, from Threadneedle Property Investments Trust.
Newpark was advised by WSP Property and JLMcr Property, while Threadneedle was advised by CPP.
The new owner plans to start a comprehensive refurbishment immediately, including transformation of the entrance lobby and a full M&E overhaul.
Completion of the refurbishment is expected in June next year.
Two floors of the three-storey building are currently available to lease, with 10,200 sq ft on the ground floor and 10,488 sq ft on the top floor, which is available in January, with a quoted rent of £26/sq ft.
The middle floor is already let to Bellway Homes.
Thorpe Park was developed by Scarborough Group and consists of a mixed-use office, retail, and leisure complex located five miles east of Leeds city centre at Junction 46 of the M1.
Elizabeth Ridler, office agency partner with Knight Frank in Leeds, who are the joint marketing agents for the building, commented: “Located within the Thorpe Park Leeds business park, 2150 Century Way is a high-quality, grade A office building positioned in one of the north’s most prominent and well-connected commercial hubs.
“As the demand for high-quality workspace continues to evolve, the Newpark Group has recognised that refreshing and repositioning the building for modern occupiers is a strategic priority.
“Newpark’s proposed refurbishment of the reception at 2150 Century Way is a key step in re-establishing the building as a desirable destination for both current tenants and prospective occupiers.”
Duncan Senior, partner with joint agents WSB, added: “2150 is being transformed to offer the kind of high-quality, amenity-rich workspace that modern occupiers expect. With a comprehensive refurbishment incorporating a remodel entrance, new air conditioning, revised landscaping, outdoor seating, and EV charging, it will deliver true grade A space in the heart of Thorpe Park.
“We’re seeing a clear flight to quality, and it’s not limited to the city centre, occupiers are choosing buildings that support wellbeing, sustainability, and flexibility and 2150 will tick every box.”
