Government building in Leeds city centre hits the market for £16.4m

A Government-let building in Leeds is now for sale with a price tag of £16.4m.

Warwick Capital Partners, represented by international real estate advisor Savills, has brought to market Castle House.

The building is let to The Secretary of State for the Environment and occupied by HMRC at a passing rent of £1.44m, on a lease with circa 6.75 years unexpired.

The property offers 78,298 sq ft of office accommodation across ground and 13 upper floors.

Located on Lisbon Street in the West End area of Leeds, Castle House is adjacent to the West One development and opposite Wellington Place.

The West End boasts a wide range of occupiers including PwC, Squire Patton Boggs, RSM Tenon and Equifax.

Simon Lister, investment director at Savills Leeds, commented: “Castle House is let to a rock solid tenant off a very attractive passing rent, which benefits from an RPI uplift next year.

“The property’s strategic location and regular configuration also offer potential for medium term conversion to residential, student accommodation or hotel use, subject to necessary consents, making it a very desirable investment opportunity.”