Central Leeds property acquired in 10-year lease with Manchester property developer

Property Alliance Group has secured a new letting in Leeds city centre.

LCF Law has agreed the 10-year lease for 6,000 sq ft at 33 Park Place.

The deal follows a £1m refurbishment by Alliance, which has created new amenities for occupiers, including an on-site gym with showers and bike storage.

Vacant space and common parts have been upgraded and the reception area remodelled and modernised. The outdoor space has also been improved with a resurfaced car park, new landscaping and seating for tenants in the courtyard area.

The new premises will accommodate 60 LCF Law staff, with lawyers and support staff moving from the firm’s existing Leeds city centre office on Sovereign Street.

The firm provides corporate and personal legal services, and will occupy the new Park Place offices in early 2020. The company has offices in Bradford, Harrogate and Ilkley.

Rob Peill, head of offices at Alliance, said: “Our major investment in this scheme meets the growing demand from occupiers for more amenity space, especially facilities which can help improve people’s health and wellbeing.

“The upgrade has also transformed a significant proportion of the space creating a much more contemporary look and attractive working environment for occupiers.”

Manchester-based Alliance purchased 33 Park Place and 31 York Place in 2017.

Both buildings, which span a total of 64,278 sq ft, share a central courtyard and were the company’s first investment in Leeds as part of its aim to expand its North portfolio.

Simon Stell, managing partner at LCF Law, added: “Locating to 33 Park Place will provide us with a high-quality and impressive office space that benefits from an exceptional range of amenities.

“It’s also ideally located at the heart of Leeds city centre’s legal and financial district, which will be a fantastic base for us as we embark on our next phase of growth.”

CBRE and JLL are the joint letting agents for both buildings.