Sale of Grade II listed building secured in prime city spot
A Grade II listed building in one of the most sought-after locations in Leeds has been sold by us just weeks after coming onto the market.
Property developer 88m Group acquired the 3,284 sq ft building on Park Square which was being marketed with a guide price of £550,000 and will use the property as its company headquarters following a major refurbishment.
The 88m Group has a multi-million pound commercial property portfolio which includes business centres, self-storage units, eco homes, high street banks and supermarket outlets. Tom Loughren, head of acquisitions at 88m Group, said: “We have been searching for a prestigious HQ building for our operations and are delighted to have secured 28 Park Square, one of the best office addresses in Leeds.”
The building, which is in a conservation area, was sold by the grandchildren of Leeds solicitor William Bateson who bought the property in the 1930s. Before being put up for sale, it had been vacant and available to let for two years after the previous occupants – a stockbroker – went into administration.
It was on the market to purchase for two weeks before a sale was agreed and contracts exchanged less than 10 days later.
Both vendor and purchaser are long standing clients of Leeds-based Sanderson Weatherall which has its offices on Wellington Street.
Dominic Towler, at Sanderson Weatherall, assisted in securing the sale of the property. He said: “Park Square is one of the most sought-after locations within the city centre and the Grade II listed buildings have always been a premium product in Leeds. The fact that owners are very reluctant to release freehold properties means that they will always be snapped up quickly and its prime location on Park Square enhanced its saleability even further.”