Credit Suisse is under offer to buy the 120,000 sq ft office building No 1 Leeds at 26 Whitehall Road from Triuva for close to £37m – a 6.5% net initial yield.
The building, which has only 10,000 sq ft available, is occupied by tenants including Johnston Press, GDF Suez, Gratterpalm and i2 Office.
No 1 Leeds, formerly known as Latitude Red, was sold by its developer, BAM Properties, to Triuva, then IVG, in 2007 as part of a UK portfolio. It forms part of a major regeneration of the west end of the city, where Town Centre Securities has outline consent to deliver 375,000 sq ft of offices, 18,500 sq ft of restaurants and 8,500 sq ft of leisure space, as well as a 500-space multi-storey car park.
Knight Frank is acting for Triuva; BNP Paribas Real Estate is representing Credit Suisse.
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