Leeds’ CBRE team complete £4.75m sale of two business parks

Acting on behalf of Kennedy Wilson Europe Real Estate, the Capital Markets team at CBRE Leeds has sold two business parks in Leeds and Newcastle Upon Tyne for around £4.75m.

Pavilion Business Park, which was acquired by M7 Real Estate, is a business park fronting Leeds outer ring road, close to Junction 1 of the M621 motorway and Leeds City Centre.

The 16 detached, self-contained two and three storey modern buildings provide 53,645 sq ft of office accommodation and are already home to a wide range of occupiers such as ADT Fire and Security Plc, Banardo’s and Level 3 Communications UK Limited.

Vantage Point, which was acquired by Methnor Properties, is located on Balliol Business Park in the Newcastle Upon Tyne.

The park comprises two modern three storey office buildings, Victory House and Balliol House, totalling 40,712 sq ft over ground and two upper floors. HMRC, Greggs, Laing O’Rourke, Leica and Communisis are all located at the park.

Robin Bullas, director of Capital Markets at CBRE Leeds, commented: “We are delighted to announce the sale of Vantage Point and Pavilion Business Park, both situated in prominent and established locations within the North of England.

“The recent sales demonstrate the current investor appetite for well positioned office accommodation with asset management opportunities.”