The lease was for a term certain of 10 years with a 5 yearly rent review and the commencing rent is at £245,000 pax. Lambert Smith Hampton acted for Siemens.
"Supply of good quality modern units is deminishing rapidly" said Nick Arundel of AWS "and new development is on hold because the banks are restricting finance and developers are reluctant to expose themselves to the ridiculous empty rate liabilities imposed by the last Government".
Joint Agent, Ian Greenwood of Carter Towler said "we have never had an oversupply in the Greater Leeds region and we are running out of quality units across the Greater Leeds and West Yorkshire region as a whole".