Investment group completes £9.58m acquisition of 51,000 sq ft Leeds city centre office building

LJ Real Estate has completed the acquisition of its its first property in central Leeds as its Yorkshire portfolio continues to expand.

The family-backed investment group has purchased 34 Boar Lane (formerly CGU House) from Regional REIT in a £9.58m deal.

34 Boar Lane is a 51,000 sq ft office and retail building located immediately opposite the railway station and Trinity Leeds shopping centre.

LJ Real Estate is set to refurbish the building to create a “collaborative environment that offers its resident businesses top-quality and characterful, design-led office space with top-of-the-range technology as well an exciting range of restaurants and shops.”

The team developing 34 Boar Lane is led by directors Sam Lawson Johnston and George Haddo.

Sam Lawson Johnston said: “We are excited to transform this building into a contemporary workspace with top technology, character and a great culture, which will be fit for the many dynamic businesses basing themselves in Leeds.”

LJ Real Estate is a dedicated team (within LJ Partnership) focussed on key UK cities, which actively invests its own funds and that of entrepreneurs and wealthy families in the real estate sector.

George Haddo added: “People and organisations thrive as part of a community - the opportunity to build a sense of place is at the centre of what we do when we buy and refurbish buildings.

“Renovating historic properties also means that the city’s heritage lives on for future generations, and businesses are part of a much longer and more engaging story.

Eamon Fox, partner and head of office agency at Knight Frank Leeds, who advised the LJ Real Estate, commented: “We have been collaborating with George and Sam for over three years to find the correct property in Leeds to purchase.

“We have a great level of ambition for the asset as we look to transform this well positioned building into exciting workplace at the forefront of the Leeds market.”