Wilson Bowden Pension Fund is tipped to be selling the investment of the last phase of its Victoria Place office scheme in Leeds, for circa £10.5m, reflecting a yield of 6.75%
The final phase of the speculative city centre development comprises 3,818 sq m (41,102 sq ft) and has just been let to Energis Communications. The company is paying a rent of £180 per sq m (£16.75 per sq ft).
Knight Frank’s Paul Fairhurst, said: “Leeds has reached a situation where competition from other sectors, combined with a surge in demand for office accommodation, has led to availability of new build grade A space being severely restricted.”
Grenville Smith & Duncan and Weatherall Green & Smith are representing Wilson Bowden.
EGi News 25/04/00
