'A magnificent opportunity': Prime Leeds office building goes up for sale for over £26m
The office is just minutes from the station
An office building in the heart of Leeds city centre has been put on the market for more than £26million following a major refurbishment.
12 King Street, which is just a two-minute walk from Leeds Station, is being sold by owners Opus North and Fiera Real Estate UK.
The Grade A office building has been redeveloped, with the work taking it back to its structural frame and adding a new seventh floor.
It now provides 52,237 sq ft of office space across a basement and seven upper floors.
The building is let to nine national and international companies, including Lloyds Bank, NM Rothschild & Sons, Azets and Endless.
It also has private terraces on the first and sixth floors, while the new seventh floor includes a 3,875 sq ft communal wrap-around terrace.
Other facilities include 12 secure basement parking spaces, eight of which have EV charging points, as well as cycle facilities, a fitness spa, drying rooms and six showers.
There is also a business lounge in the reception area, with further parking spaces available to the rear of the building.
Marketing agent Knight Frank described the refurbished building as “effectively a new build”.
Graham Foxton, investment partner at Knight Frank in Leeds, said the sale represented a rare opportunity to buy a prime office building in the city.
He said: “This is a magnificent opportunity to acquire one of the very best office buildings in Leeds, with a host of premier occupiers in a prime location.”
The building has EV charging points, low water usage and energy-efficient systems, as well as a Platinum WiredScore rating.
Henry King, director at CBRE, said there was a limited supply of new prime office space in Leeds.
He said headline rents in the city had reached £52.50 per sq ft, with further growth expected.
The building's other nearby office occupiers include Channel 4, Knight Frank, CBRE, Deloitte, Sky and DLA Piper.
The sale comes as the city centre continues to see significant investment in both offices and residential development.
More than 6,600 residential beds have been completed in Leeds city centre over the past five years, with a further 5,900 currently under construction, according to figures provided by the agents.