Park Row House in Leeds city centre acquired in £8.70m deal

Park Row House in Leeds city centre has been acquired by a real estate investment firm in a £8.70m deal.

ADAPT Real Estate working alongside Ship Street Advisors and acting on behalf of UKRO, a Jersey domiciled fund, has purchased Park Row House from a global real estate investment manager.

The Grade-II listed property is a prominent central Leeds office building providing 41,955 sq ft of Grade A space.

Partially refurbished in 2013, the property is currently let to six tenants including Search Consultancy Ltd, Charlton Morris and Icelolly Marketing, with approximately 15,500 sq ft vacant and available to lease.

Located on Park Row, the property is close to both the business and retail districts of the city with nearby occupiers including Natwest, HSBC, Jamie’s Italian and Pinsent Masons.

Mark Wilson, associate director in the investment team at Savills Leeds, which represented ADAPT Real Estate, commented: “We are delighted to have acquired another prominent office asset for our client following their recent purchase of Riverside West in Sheffield.

“The regional office market continues to be popular with investors in an environment of strong take up levels and rental growth.”

Knight Frank advised the vendor.