Debt recovery firm Lowell is close to sealing one of Leeds’ biggest office lettings since the downturn.
The group is under offer to take the entire 82,000 sq ft Ellington House at Goodman’s Leeds Valley Park on the edge of Leeds city centre.
Yorkshire Building Society signed Leeds city centre’s biggest letting deal for a decade in June after agreeing a 25-year lease for Highcross’s 76,500 sq ft Broad Gate development at around £22.50 per sq ft.
Lowell is understood to be taking a 25-year lease at the park, where rents are around £20 per sq ft.
The group’s lease expires in August 2014 at its current 22,000 sq ft Leeds base at Enterprise House.
Leeds Valley Park’s tenants include BAE Systems, Arla Foods, Ventura and ING Car Lease.
Office take-up in Leeds in Q2 2013 totalled 203,000 sq ft, nearly four times higher than the 56,500 sq ft in Q2 2012, according to the Leeds Office Agents’ Forum.
As at the end of Q2, available Grade-A supply stood at just 235,000 sq ft.
Deloitte Real Estate is acting for Lowell; Jones Lang LaSalle and Savills are representing Goodman.
chris.berkin@estatesgazette.com
