Overseas investor seals deals for No.1 Park Lane, Leeds

A German institutional investor, represented by international real estate advisor Savills, has sold No.1 Park Lane in Leeds to a private overseas investor from a guide price in excess of £19 million. 

The landmark building was constructed in 2001 and offers 76,260 sq ft (7,085 sq m) of Grade A office space over seven floors, accessed via a striking double height glazed entrance atrium.  The property is let in its entirety to credit reference agency Callcredit as its UK headquarters, at a current rent of £1.5 million per annum. 

Located in the western corridor of Leeds city centre, No.1 Park Lane neighbours the central business district and civic quarter.  Nearby occupiers include TD Waterhouse, NHS, HMRC and Weightmans LLP.

Mark Wilson, associate director in the investment team at Savills Leeds, comments: “This deal reflects the strong overseas appetite for prime regional office assets since the EU referendum last year.  The recently agreed lease extension providing 10 years unexpired income proved very attractive in the current income-focussed market.”

Yorktown Partners LLP and Park Capital Investment acted for the purchaser.