Middle East company snaps up central Leeds property for over £9m

Westgate Point Leeds has been sold to property company YPP on behalf of its Middle East-based client for £9.30m.

The centrally located eight-storey office building - which comprises 46,806 sq ft - is let in its entirety to Weightmans LLP with just over four years of unexpired lease term.

YPP represented by Cushman & Wakefield, WSB Property Consultants and Schofield Sweeney acquired the building from an undisclosed vendor, represented by Lisney.

Richard Brooke from Cushman & Wakefield’s capital markets team in Leeds, said: “The acquisition of this landmark office building represents a strategic deal for YPP.

“The investment provides solid income over the medium-term at an attractive yield, as well as offering a range of asset management options beyond the current lease.”

Westgate Point is located on an island site approximately half a mile north west of Leeds train station on the edge of the traditional office district.

Farooq Zar from Schofield Sweeney’s commercial property team, added: “I am delighted to have advised YPP and its client on the purchase of such a high-profile office building which offers fantastic opportunities for the future.

“YPP continue to go from strength to strength and it is a pleasure to work with them.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →