North Leeds business park snapped up for £28m

A business park in North Leeds has changed hands for eight figures.

Hillview Real Estate (HRE), part of The Hillview Group, snapped up Lawnswood Business Park for £28m.

Located on the Leeds Outer Ring Road A6120, Lawnswood Business Park is five miles from the city centre and a 10-minute drive from Leeds Bradford Airport.

The scheme comprises eight office buildings in a landscaped environment, with business space ranging from 1,900 sq ft to a self-contained property of 37,190 sq ft.

Lawnswood is currently home to 17 occupiers, including BHP Chartered Accountants, chemical distributor Brenntag UK and HM Customs & Excise.

Hillview Group MD Nadav Livni said: “I am delighted by this latest acquisition of Lawnswood for Hillview Partners Property Fund II.

“Following Brexit there is an opportunity for the government to massively boost the UK economy by investing in regional areas like Leeds and this will benefit the regional office and industrial property sectors.”

Nadav continued: “Having such a strong talent pool, infrastructure, access to capital and leading-edge innovation, I am hugely optimistic about the long-term prospects of the UK as a global hub of high-value manufacturing industries and services.”

Hillview was advised on the deal by commercial property consultancy Lambert Smith Hampton (LSH).

Luke Symonds, LSH capital markets director, commented: “Lawnswood Business Park presents a rare opportunity to acquire a prominent, unbroken business park with a strong occupier mix and undoubted growth potential.

“The Leeds out of town office market has demonstrated robust take up year on year and this is now leading to supply shortages for good quality stock. LSH is delighted to continue our relationship with Hillview, valued clients.”