Professional services firm Barnett Waddingham has become the latest business to sign up for a new multimillion-pound office scheme set to open in Leeds.
The UK professional services consultancy, which focuses on risk, pensions, investment and insurance, is set to expand into City Square House in Leeds after signing up for 14,000sq ft of space on a 15-year lease. The deal for the prime office space marks one of the biggest in the city over the last year, having been brokered by the Leeds office of property consultancy Knight Frank.
Barnett Waddingham will relocate from within Leeds into the new steel and glass building, a 140,000 sq ft speculative building being developed by MRP as the only remaining undeveloped property fronting City Square. The prominent workspace will have Grade A office accommodation over 12-storeys including low carbon credentials, terraces on the fourth, fifth and sixth floors and extensive cycling, electric vehicle and e-bike charging point facilities.
The building, valued at £100m at its topping out ceremony in May and which is being constructed by design and build contractors McAleer & Rushe, is scheduled to be completed early next year. Barnett Waddingham will be joining global law firm DLA and Markel, a leading SME-focused expert in providing integrated insurance, tax and legal services, in the building. Together, the two companies have taken a combined total of 103,000 sq ft.
Angus Monteith, development director at MRP said: “We are delighted to welcome a company with such an excellent reputation as Barnett Waddingham to City Square House. This latest signing means the development is now 85% pre-let with a final 22,000 sq ft available.
“Securing a 15-year pre-let deal is a very significant and positive statement of intent in the long-term future prosperity of office space in Leeds and, indeed, in urban centres throughout the UK. As we near completion of construction in early 2024, we expect this strong demand for the best workspace will continue.”
Eamon Fox, partner and head of office agency at global property consultancy Knight Frank in Leeds, advised the landlord. He said: “The Barnett Waddingham deal completes a magnificent hat-trick of high calibre companies moving into City Square House. City Square House is the iconic new office development that the Leeds market has been waiting for. It is in a prime position, just off City Square and next to Leeds Station, and the remaining available space of 22,000 sq ft will help to address the pressing need for quality Grade A office space in the city centre.
“This is a significant deal for the city of Leeds, a vote of confidence in the city and its economy. Amidst this challenging economic climate, this is just the boost the whole region needed and a genuine cause to be optimistic about the commercial property sector in Yorkshire. The regeneration of the city centre of Leeds is now paying dividends for the city’s economy and reputation and City Square House, so brilliantly developed speculatively by MRP, is a shining example of what can be achieved with vision and courage.”
Original artice – https://business-live.co.uk/all-about/yorkshire-humber
