Grade II listed Leeds city centre building sold two weeks after hitting the market

A Grade II listed building in a prime Leeds location has been sold by chartered surveyor and property consultancy Sanderson Weatherall only weeks after hitting the market.

88M Group, a property developer, purchased the 3,284 sq ft building on Park Square, which was being marketed with a guide price of £550k, and will use the property as its company headquarters following a major refurbishment.

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.

The grandchildren of Leeds solicitor William Bateson sold the building, which is in a conservation area. 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.

A sale was agreed upon after the building was on the market to purchase for only two weeks, and contracts were 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.

Tom Loughran, 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.”

Dominic Towler, from Sanderson Weatherall, added: “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.”

Sanderson Weatherall has regional offices in Newcastle, Teesside, Darlington, York, Leeds, Manchester, Bristol, Exeter and London, employs around 200 people and has a turnover of £14m.