Demand soars for industrial heritage office space in Leeds

Industrial heritage office space in Leeds is in high demand, according to global property consultancy Knight Frank.

The Round Foundry, which transformed a historic, but derelict area of the city into a modern business location, has played a significant role in increasing the desire for office space, which combines a heritage setting with modern technology, claims Knight Frank.

Eamon Fox, partner and head of office agency at Knight Frank in Leeds, commented: “Recruitment and retention of talented staff is not just about the benefits package. Having an office that is both an inspiring and enjoyable place to work is now a critical, cost-effective way to successfully attract the most talented employees.

“Our future offices must break the mould of the past two decades. If organisations want to attract the best and keep their workforce, they need to create spaces that their staff will want to work in. The Round Foundry, with its ground-breaking mix of the ancient and modern, has led the way in Leeds.

“The newest generation of workers expect their office to be an inspiring and enjoyable place to work. Historically the preserve of technology and media firms, the new ideal office combines collaborative spaces with individual work areas, as well as providing amenities that encourage people to think of work as an extension of home.”

Mr Fox cites the £1.5m on-going refurbishment of Concordia Works in Sovereign Street, close to the Round Foundry on the banks of the River Aire, as a solution to the increasing demand for trendy office space in Leeds.

He explained: “The 13,922 sq ft Concordia Works is a unique and striking property, set over five floors and situated just a short walk from Leeds City Station and the main retail heart of the city. Built in the early 20th century, this former yarn and cord warehouse is being refurbished by London-based developers Boultbee Brooks with modern businesses in mind, whilst maintaining its existing structure and original period features.

“The refurbishment, which will be completed by May next year, is a fusion of original features and modern design, creating a dynamic hi-spec loft-style workspace. The interior design respects the integrity of the warehouse’s industrial past. Exposed brickwork, trusses and cast iron columns will play a major part in the building’s new look. The result is five floors, ranging from 2,132 sq ft to 3,040 sq ft, of exceptional and adaptable open plan office space, offering a contemporary working environment for dynamic and creative businesses.

“Concordia Works has excellent transport links with the property just moments away from Leeds City Station and with the new southern entrance set to be complete by the end of 2015, commuting in and out of the city will be even more convenient. The M1 and M621 motorways are only a 5 minute drive away and 2 large multi-storey car parks are located 100 yards from the building’s front door. For those who prefer a greener mode of travel, riverside cycle paths run close to Concordia Works.”

He added: “The impact of advancements in technology on the property market is likely to be significant as the requirements of a multitude of sectors including logistics, retail, healthcare and more shift as innovative, ‘smart’ ways of working and living are embraced.

“The challenge for the property market is to keep pace with the changing face of technology; the latter is, on occasions, moving faster than the built environment can adapt to.

“However, the pioneering redevelopment of Concordia Works addresses this challenge head on. By creating cutting-edge workspace in an attractive, historic setting, Boultbee Brooks are satisfying a pent-up need for trendy office space in the centre of Leeds. We are already experiencing significant interest in the building.”.

The Leeds office of Knight Frank are the sole marketing agents for Concordia Works.