British Telecom is looking to dispose of at least one of its main office buildings in Leeds as it continues to search for new accommodation in 11,148 sq m (120,000 sq ft) in the City centre.
According to BT’s Chris Oakes, the telecommunications company is looking to dispose of one of its two main buildings in the city following the successful acquisition of new property.
Either, Telecom House – a 8,950 sq m (96,350 sq ft) building on Wellington Street where BT has the long-leasehold – or the freehold of the 7,350 sq m (79,000 sq ft) Netel House on Grey Street could come to the market. BT is expected to keep the building closest to its new property.
BT is looking for a single office building in Leeds with floorplates of over 1,393 sq m (15,000 sq ft) for occupation by the Millennium. It is believed to have looked at both British Land’s Criterion Place development and National Westminster’s scheme on City Square.
Initially, BT had been searching for 17,651 sq m (190,000 sq ft) in the city centre but the requirement has now been confirmed as 11,148 sq m (120,000 sq ft).
St Quintin is advising British Telecom.
EGi News 12/11/97
