Leeds office investment Hetton Court sold in £2million deal

Published on: 12th January 2017

Acting on behalf of Canada Life Investments, we have sold freehold office investment Hetton Court, in Leeds, for over £2m.

The 20,197 sq ft office building, which is located at The Oval, opposite the Penny Hill Shopping Centre in Hunslet, was sold to Augustus House Ltd, advised by Mark Brearley & Co.

Hetton Court is let to John Mowlem Construction Plc, with Carillion Construction Ltd as Guarantor on a 25 year lease at a rent of £285,175 per annum and the building is now occupied by healthcare waste specialists SRCL.

Richard Dunn, head of our office agency, said “We are pleased to have completed the sale of this out of town office investment, which offers a number of asset management plays at an attractive price.

“The out of town market saw increasing take-up levels and rents earlier in 2016, and with the recent uncertainty caused by the Referendum, it’s encouraging to see transactions like Hetton Court concluding.”

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Office Agency

Our office agency team provide advice and expertise on the sale, acquisition, marketing, development and leasing of office properties and developments across the country. Utilising in-depth experience of the UK office sector coupled with extensive knowledge of the local and regional marketplaces in which we operate, each team possesses unrivalled skills to work to your significant advantage. Our specialist knowledge ranges from individual office suites to out of town business parks and new-build city centre developments.The specialism is supported by a broad range of additional services within the business. Agency Disposals: Realistic marketing advice and methodology Comprehensive market knowledge and full research facilities Extensive enquiry database Innovative marketing ideas Appraisal of alternative uses with in-house town planning advice Agency Acquisitions: Obtaining a clear understanding of our client’s requirements and commercial objectives Comprehensive property stock search and identification of development opportunities Objective advice on the suitability of identified properties Negotiation of favourable terms Full back up service including structural surveys, planning advice and fitting out etc. Valuation and finance advice Development Consultancy: Thorough market research Advice on selection and appointment of consultants Undertaking of full financial appraisals and timescales Advice on optimum composition of development Assessment of deliverability Advice on specification and scheme layout End user knowledge   Contact Us

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Our office agency team provide advice and expertise on the sale, acquisition, marketing, development and leasing of office properties and developments across the country.

Utilising in-depth experience of the UK office sector coupled with extensive knowledge of the local and regional marketplaces in which we operate, each team possesses unrivalled skills to work to your significant advantage.

Our specialist knowledge ranges from individual office suites to out of town business parks and new-build city centre developments.The specialism is supported by a broad range of additional services within the business.

Agency Disposals:

  • Realistic marketing advice and methodology
  • Comprehensive market knowledge and full research facilities
  • Extensive enquiry database
  • Innovative marketing ideas
  • Appraisal of alternative uses with in-house town planning advice

Agency Acquisitions:

  • Obtaining a clear understanding of our client’s requirements and commercial objectives
  • Comprehensive property stock search and identification of development opportunities
  • Objective advice on the suitability of identified properties
  • Negotiation of favourable terms
  • Full back up service including structural surveys, planning advice and fitting out etc.
  • Valuation and finance advice

Development Consultancy:

  • Thorough market research
  • Advice on selection and appointment of consultants
  • Undertaking of full financial appraisals and timescales
  • Advice on optimum composition of development
  • Assessment of deliverability
  • Advice on specification and scheme layout
  • End user knowledge

 

Contact Us

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Investment Agency

Working closely with our clients, Sanderson Weatherall’s investment team has the experience to offer appropriate, accurate and objective advice to help you make investment decisions in the office, industrial, leisure, medical and retail sectors. We have expertise in all of our regional offices providing full national coverage and we pride ourselves on our high quality of service tailored individually by project to our clients needs and always with personal delivery by a dedicated Partner contact. General Services: Acquisitions Disposal Financial Modeling Development Consultancy Appraisals Property Funding Portfolio Analysis Site acquisition & assembly   Contact Us

Read More....

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Working closely with our clients, Sanderson Weatherall’s investment team has the experience to offer appropriate, accurate and objective advice to help you make investment decisions in the office, industrial, leisure, medical and retail sectors.

We have expertise in all of our regional offices providing full national coverage and we pride ourselves on our high quality of service tailored individually by project to our clients needs and always with personal delivery by a dedicated Partner contact.

General Services:

  • Acquisitions
  • Disposal
  • Financial Modeling
  • Development Consultancy
  • Appraisals
  • Property Funding
  • Portfolio Analysis
  • Site acquisition & assembly

 

Contact Us

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Leeds office market has a strong quarter despite post-Brexit uncertainty

The Leeds office market tabled total take-up of 191,265 sq ft in Q3 which was a positive outcome given the uncertainty created in Q’s 2 & 3 by the referendum and decision to Brexit. Q3 Leeds City Centre take-up was 125,321 sq ft an increase of 52,218 sq ft (71%) on the preceding quarter as lettings to The Department of Health of 23,762 sq ft at Whitehall II and 12,969 sq ft to Ward Hadaway at the newly completed 5 Wellington Place helped swell the total amount of space transacted.

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The Leeds office market tabled total take-up of 191,265 sq ft in Q3 which was a positive outcome given the uncertainty created in Q’s 2 & 3 by the referendum and decision to Brexit.

Q3 Leeds City Centre take-up was 125,321 sq ft an increase of 52,218 sq ft (71%) on the preceding quarter as lettings to The Department of Health of 23,762 sq ft at Whitehall II and 12,969 sq ft to Ward Hadaway at the newly completed 5 Wellington Place helped swell the total amount of space transacted.

[fulltext] =>

 The Out of Town market saw the largest deal of the quarter as Lowell signed for 45,647 sq ft of expansion space at Leeds Valley Park although this letting masked what was otherwise a challenging period of activity as Out of Town transactions totalled just 65,944 sq ft in Q3. (Q2 2016: 76,026 sq ft).

Click here to download Q3 2016 Leeds office market update

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How Central Square is redefining the Leeds office market

Richard Dunn, partner in our office agency team talks about working as a leasing agent on Leeds City Centre’s Central Square. “As this landmark £100m development nears practical completion, it is clear that Central Square is set to redefine what Grade A office accommodation looks like in Leeds City Centre.

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Richard Dunn, partner in our office agency team talks about working as a leasing agent on Leeds City Centre’s Central Square.

“As this landmark £100m development nears practical completion, it is clear that Central Square is set to redefine what Grade A office accommodation looks like in Leeds City Centre.

[fulltext] =>

In response to demand for quality, sustainable offices with large, flexible footplates, Central Square is delivering class-leading sustainability credentials with the largest floorplates in the city (25,000 sq ft²).

Along with eleven floors of office space, occupiers can enjoy an impressive ninth floor sky garden that has panoramic views of the city, and is a great spot for entertaining. Inside the ground floor atrium, a quality mix of bars, restaurants and shops, as well as a winter garden, will be open to the general public.

There’s still chance for occupiers to take space with approximately 125,000 sq ft of Grade A office space available. We’ve had a huge amount of interest and two pre-let deals including PwC, who have taken 50,000 sq ft on the 7th and 8th floors, and RSM who have taken 25,000 sq ft on the 5th floor. A further 17,000 sq ft of office space is also in solicitors’ hands.

It’s fantastic to work on such a cutting edge development as this level of quality is very rare outside of the capital – it’s a London office building located in the heart of Leeds.”

Central Square is an 11-storey, 220,000 sq ft building located on Wellington Street, and a two minute walk from Leeds train station. Earlier this year, we were appointed as joint leasing agent on Central Square, alongside JLL.

Click here to find out more about the office space available at Central Square.

Contact Us

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City Point reaches full occupancy following letting to Blacks Solicitors in Leeds

We have let an office space at City Point in Leeds, to Black Solicitors, on behalf of Redefine International. Black Solicitors has taken the second floor of City Point, which is located on King Street in Leeds, on a 10 year lease. The 11,000 sq ft space will allow the law firm to consolidate their office space from two separate buildings, to one single floor. The letting brings the 61,500 sq ft building, which was acquired by Redefine International in March 2016, to full occupancy for the first time.

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We have let an office space at City Point in Leeds, to Black Solicitors, on behalf of Redefine International.

Black Solicitors has taken the second floor of City Point, which is located on King Street in Leeds, on a 10 year lease. The 11,000 sq ft space will allow the law firm to consolidate their office space from two separate buildings, to one single floor.

The letting brings the 61,500 sq ft building, which was acquired by Redefine International in March 2016, to full occupancy for the first time.

[fulltext] =>

Head of office agency, Richard Dunn, said, “It’s fantastic to see City Point fully occupied, and I am delighted to have acted on behalf of Redefine International on letting the remaining space. City Point will provide Blacks Solicitors with prominent, Grade A office space, in a prime business district location.”

Sanderson Weatherall and JLL acted on behalf of Redefine International and WSB on behalf of Blacks Solicitors.

Contact Us

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Renovation of iconic Leeds building nears completion

The refurbishment of the Grade I listed Leeming Building, located on Vicar Lane in Leeds, is nearing completion. Having been originally constructed in 1904 as the traders’ offices for Leeds City Market, the landmark building has been internally renovated to create 29,000 sq ft of office space.

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The refurbishment of the Grade I listed Leeming Building, located on Vicar Lane in Leeds, is nearing completion. Having been originally constructed in 1904 as the traders’ offices for Leeds City Market, the landmark building has been internally renovated to create 29,000 sq ft of office space.

[fulltext] =>

With an interior inspired by Scandinavian design, the property is set to offer a unique collection of stylish workspaces, intended for creative businesses.

Letting agent Richard Dunn commented, “There is nothing ordinary about The Leeming Building, and as a major part of our city’s history, it’s fantastic to see it transforming in to one of the most innovative workplaces for creative businesses in Leeds.

“Located just around the corner from the new Victoria Gate shopping destination, there’s no doubt that this is an exciting part of the city to be in, and we’ve already had a huge amount of interest from prospective occupiers.”

Sanderson Weatherall and WSB Property Consultants were appointed as letting agents on The Leeming Building by development manager TPS on behalf of Freshwater Group.

The Leeming Building has a range of spaces available, including suites up to 3,000 sq ft. For further information and to download the brochure, please click here.

Contact Us

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The Leeming Building has a range of spaces available, including suites up to 3,000 sq ft. 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