News

Great Start to September with double letting!

AWS are pleased to start the month with the completion of two out of Town office lettings. 1,715 sq ft at Linden House, Sardina Street was let to Business Advice Direct who took a new 3 year lease. We have also completed a new 6 year letting on Unit 10 Acorn Business Park, Killingbeck, Leeds. Following refurbishment works, the property has been let to PACE UK.

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Property Forum leads investigation into BID for Leeds

Leading property owners in Leeds have joined forces with the city council to investigate the merits of creating a Business Improvement District (BID) for Leeds city centre, which could generate millions of pounds to improve the local economy. The BID proposal is being headed by the Leeds Chamber Property Forum. A feasibility study, which is being funded by the property owners and Leeds City Council, will involve engagement and consultation with key city stakeholders, including Leeds, York and North Yorkshire Chamber of Commerce, Leeds and Partners, Leeds Retail Association, first direct Arena, shopping centre owners, Kirkgate Market, Leeds Civic Trust, the voluntary sector, hoteliers and licensed occupiers. It is hoped that early progress can be made and that a BID can be part of the continuing success of Leeds.

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MAJOR LETTING IN WEST LEEDS

With Knight Frank on behalf of Towngate we have let 55 Gelderd Road to OPM Packaging on a new 10 year lease. 55 Gelderd Road is a detached high quality industrial unit of 54,767 sq ft located to the West of Leeds benefitting from excellent access to the City Centre and the motorway network. This reflects the on-going strength of the industrial market in this region and proves yet again that we are in a situation where the supply of properties is diminishing.

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GROVE PARK, HARROGATE

We have recently completed on the freehold sale of an office unit (3400 sq ft) at Grove Park Court Harrogate acting on behalf of the owner, a private property company.

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UPDATE FROM THE INVESTMENT TEAM

Recent activity in the investment department includes the acquisition in June of a £4.8M Leisure unit in the Midlands for a private client. A deal that we simultaneously completed within 17 working days of instructing solicitors. Looking for similar opportunities. We are currently marketing a £5.5M multi let industrial estate that is generating significant interest.

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INDUSTRIAL MARKET RETAINS FORM

We havesold a self-contained unit of 6,660 sq ft on Beza Road in Hunslet, Leeds to Aspect Contractors for a figure £460,000 which equates to a figure of £70 per sq ft. Gina Korszanski of AWS acted on this transaction. The unit was constructed in the early 1980’s and benefits from being close to both the City Centre and the motorway network. The point is that therefore, despite media reports to the contrary the industrial market is still moving and we are achieving figures that are not far away from those we were achieving before the start of the recession.

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