No6 East Parade sells for £10m
The 44,000 sq ft Leeds office block was sold by CBRE, acting for Bridges Fund Management and Evenacre.
STR Capital acquired the building for a private client.
The grade A building has seven storeys and 13 basement parking spaces, and is let to tenants including DLA Architects, Claranet, Muse, Overbury, ABS, Dentsu, and Iwoca.
Lewis Ellis advised STR Capital, a commercial real estate investment asset management company.
Alex Whiting, senior director at CBRE, said: “6 East Parade is a high quality refurbished building in a prime location and investor interest in the property was strong.
“This multi-million pound deal highlights the continuing improvement of the Leeds investment market.”
Guy Bowden, partner at Bridges Fund Management, said: “With 6 East Parade, we saw an opportunity to bring a disused building back into economic use and address the clear under-supply of prime office space in central Leeds.
“Our investment enabled an environmentally-led refurbishment that has made the building an attractive location for local businesses, who recognise the value of sustainability features in cutting operating costs and reducing their carbon footprint.”
