Asset-managed by Catella APAM, the building has been refurbished. Credit: via Source

UK Infrastructure Bank commits to 2 Whitehall Quay

A 15-year lease for close to 29,000 sq ft has been signed by the organisation, which will relocate from One Embankment in early summer when its lease ends.

UKIB will occupy three floors of the newly refurbished premises, alongside the National Infrastructure Commission and the Low Carbon Contracts Company.

The deal was brokered by Fox Lloyd Jones for the landlord Britannia Invest A/S and asset manager Catella APAM, with Align Property Partners working for UKIB.

The transaction reflects further good news for the booming central Leeds office market, which has had a storming start to 2024, according to statistics released by the Leeds Office Agents Forum this month, with Q1 take-up more than double that recorded in the previous quarter.

UKIB’s move to Whitehall Quay reflects its long-term commitment to Leeds, the organisation said, and its continued contributions to the economic and professional vibrancy of one of the largest centres for finance and professional services outside London.

With almost 250 permanent staff, the new space will also accommodate the Bank’s changing needs as a larger and more established organisation, it said.

Align worked closely with FLJ to identify the property and complete the deal in a short timeframe, also working with UKIB’s facilities management team to lead fit-out across the three floors spanning 28,729 sq ft.

The refurbishment is being delivered by building and construction consultancy Brawdia, designer AXI and main contractor BLOK Projects.

James Emmett, COO of the UK Infrastructure Bank, said: “We are delighted to be strengthening our commitment to Leeds with a new space at 2 Whitehall Quay. The fact UKIB is anchored in the city is a key part of the Bank’s identity, and we are proud to have our headquarters here. Signing this long-term lease marks the next chapter in UKIB’s development and recognises the strength of the talent and expertise in the region’s vibrant financial ecosystem.

“Our new premises will provide a space that enables us to house our staff, meet with clients, attract the best talent and collaborate in our mission to tackle climate change and boost growth across the UK.”

Nick Salkeld, director at Fox Lloyd Jones, said: “We are hugely satisfied to have secured 2 Whitehall Quay as UKIB’s new permanent home in Leeds. The building offers state-of-the-art workspace in a prime location and after a highly competitive process was demonstrated as the best solution.

“The project has required a huge amount of collaboration and effort on all parts. It’s been an honour to work on it alongside the wider consultancy team. FLJ is very proud to have played its part and on behalf of the landlords, we look forward to welcoming UKIB to the building in June. We’re already receiving strong interest in the final remaining 7,161 sq. ft. suite available.”

Daniel Clinch, head of agency, acquisitions and disposals for Align Property Partners, added: “We’ve worked very closely with UKIB on its strategic relocation to its new UK headquarters, ensuring that we were able to identify a location that met its key business requirements and could be delivered within an extremely short timeframe.

“After a thorough scrutiny of the market, it became clear that 2 Whitehall Quay was a strong contender from the very outset. The building meets all UKIB’s key criteria, however the speed, efficiency and close collaboration between both agents, the fit-out teams and ourselves was key to delivering this property within the required timescales.”

FLJ was joint agent with CBRE.

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