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17/07/2008_ |
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HIGHCROSS TO ACQUIRE BROAD GATE, LEEDS IN £70M DEAL |
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Broad Gate, the landmark 300,000 sq ft office and retail scheme in the centre of Leeds, has being acquired by Highcross from Capital and Counties in a £70m deal.
The former department store building is currently undergoing a major re-development. When completed in December this year, Broad Gate will provide 168,750 sq ft of Grade A office accommodation and four large prime retail units.
The property will also provide the largest office floor plates in Leeds, at around 36,000 - 39,000 sq ft. With a flexible design around three cores and a central atrium with connecting bridge, the floors can be let as a whole, or sub-divided into four sections.
Highcross director, Richard Pellatt, says a prime motivation for the deal was the strong demand and limited availability of prime office space in central Leeds:
"Broad Gate and Toronto Square, which was acquired by Highcross in January this year, are among the few city centre office developments due to come on stream in 2009. With annual take-up of office space in Leeds averaging around 555,000 sq ft, of which 330,000 sq ft is Grade A, and only 75,000 sq ft prime space currently available in the city core, we will be meeting a significant need in the local market."
Three of the retail units, which total 121,086 sq ft, are already pre-let to T K Maxx, Argos and Sainsbury's, with one 32,715 sq ft unit remaining.
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30/07/2008_ |
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BROAD GATE TOPS OUT, AHEAD OF ITS COMPLETION NEXT YEAR |
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Leeds' Broad Gate has been officially "topped out" today, at a ceremony attended by the Mayor and Mayoress of Leeds, to mark the completed construction of the highest point of the building, as the former Lewis's department store is redeveloped.
Today's ceremony was attended by almost 40 people, with the Lord Mayor, Councillor Frank Robinson, and his wife, Lady Mayoress Mrs Sheila Robinson marking the event by placing a brick in the highest wall elevation on the roof of the building. The scheme will provide Leeds with a spectacular mixed use scheme incorporating retail units and office accommodation, while retaining the unique heritage and character of the landmark building.
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