Leeds businessman David Newett has completed his purchase of the 220,000 sq ft Yorkshire Post HQ for around £2m , as reported by Estates Gazette in December.
The 4.75 acre site, which was home to the Yorkshire Post and Yorkshire Evening Post for 42 years, was put up for sale last year through Fox Lloyd Jones and Rapleys after staff moved to offices at the nearby Number 1 Leeds.
Demolition works will commence immediately. Reclamation work from the interior and exterior will take place prior to pulling down the building, which will start in three to four weeks.
The site has been bought “unconditionally” and plans are being worked up for a number of possible uses, such as a conference centre, offices, a hotel, private and student residential and leisure or a combination of these elements.
Newett, from Wetherby in West Yorkshire, runs Stirling Investments, which bought the Thorpe Arch Grange portion of Leeds United Football Club’s training ground in 2004. He also co-founded Yorkshire-based turnaround investor Endless.
Paul Fox of Fox Lloyd Jones said: “Our national marketing campaign attracted a wide range of interests in the site, reflective of its commanding gateway position and the additional benefit of its to-date unexplored riverside frontage.
“The successful purchaser demonstrated an ability to perform unconditionally and swiftly, and shared the city’s aspirations for a major landmark scheme for Leeds.
“It is an extensive site. This will become more apparent once the building is demolished and the area is opened up, which is expected by the end of June. Indicatively, it’s the same size as the site housing the First Direct Arena. Being such an important western gateway to the city, it could accommodate a user similar to that of the arena.
“It is undoubtedly one of the best development opportunities to come to the market in Leeds in recent years.
“The west end of the city is currently seeing significant activity with a number of high-quality mixed-use schemes now being brought forward. We believe that the Yorkshire Post site will provide the perfect extension and gateway to this activity, as the city centre grows in that direction.”
chris.berkin@estatesgazette.com
