JLL and King Sturge have been appointed agents for the commercial element of The Gateway, a £135m mixed-use scheme in Leeds city centre.
The agents, in conjunction with development consultant Gerwynbryan, will represent 20,000 sq ft of office and 10,000 sq ft of retail and leisure space available in units ranging from 873 sq ft to 4,212 sq ft.
Phase one and two of the Scotfield scheme which includes 256 apartments are completely sold, with 50% of the 300 apartments in phase 3 remaining.
The scheme also includes a 218 bed hotel which was forward-sold for £10.5m to French giant, Accor, who will operate the hotel under their new Etap brand. The investment was at a yield of 5.25%.
Jeff Pearey, European Director and Head of Leeds office, at Jones Lang LaSalle, said: “We’re delighted to have been appointed on The Gateway.
“We feel that this is an incredibly impressive mixed-use scheme and are confident that the office, retail and leisure elements will be warmly received.”
Richard Thornton, Partner and Head of Office Agency at King Sturge, said: “We have followed The Gateway scheme with interest since its infancy and are pleased to be appointed to look after the office space, which has already received a huge amount of interest.
“We are also talking to a range of commercial operators such as convenience stores, crèche operators and specialist retailers and want to ensure we get the right tenant mix for the scheme.
“We are also looking at bar/restaurant operators for the prime space beneath the hotel.”
References: EGi News 27/06/06
