Two riverfront sites in central Leeds look set to ease the city’s lack of office supply.
Miller Gregory – the joint venture between Miller Developments and Gregory Properties – is seeking forward-funding for a 5,570 sq m (60,000 sq ft) office scheme to go on a 0.8ha (2 acre) site on Wellington Street known as Whitehall phase 2.
Paul Fox of Weatherall Green & Smith, joint letting agent with DTZ Debenham Thorpe said: “Miller Gregory is considering forward-funding it at the moment, 12 names were tabled and that’s been whittled down to six who we’re talking to this week. The market desperately needs this scheme, it could be the only spec building going up this year.”
The scheme is awaiting detailed consent and, if approved, work could start on site immediately. It will include a 240-bedroom hotel, which is being developed by French hotel operator Accor, while Crosby Homes is developing 130 apartments overlooking the river. Completion is expected early 2001.
Meanwhile, on the adjacent site to Whitehall phase two, MWB Business Exchange has signed up for 2,883 sq m (31,020 sq ft) at Yorkshire Electricity’s £60m development known as Whitehall phase one.
The serviced office provider has negotiated rents around £204 per sq m (£19 per sq ft) on a 17-year lease for the property.
MWB spokesman Jeremy Phillips said: “Whitehall satisfies all our criteria with one of the best positions in the heart of the city centre.”
MWB is also rumoured to be looking at the1,948 sq m (20,960 sq ft) available on the top two floors of the scheme. However, WG&S’s Fox denied the speculation, he said: “An option was put to MWB before Christmas but they aren’t taking it. We’ll be signing someone else shortly.”
EGi 20/01/00
