Central Leeds office space set for transformation following £12m acquisition

An office scheme in the centre of Leeds has been purchased in a £12m acquisition.

Yorkshire-based property developer Opus North has bought the 50,000 sq ft office space Kings Court in the heart of the city with the support of funding partner Fiera Real Estate.

Fiera Real Estate and Opus North plan to refurbish the building and bring it to a Grade A specification with the potential for a change of use.

It is anticipated that the redeveloped scheme will be ready for occupation in the summer of 2021.

Chris Button, fund manager at Fiera Real Estate, commented: “This acquisition is a great way to start 2020. The fund is keen to find similar opportunities in the £5-£25m range throughout the UK.”

A number of Yorkshire firms will be working on the renovation of Kings Court, including architecture firm DLA, quantity surveyor Gardiner & Theobald, engineer Curtains, M&E consultants MRB and property consultants Knight Frank and Fox Lloyd Jones.

Paul Fox, Director at Fox Lloyd Jones added: “This is one of the most significant office deals in Leeds during the past 12 months and we are very thrilled to be part of the team.

“Kings Court is a striking landmark building in the heart of the city’s professional core, we look forward to repositioning the asset for delivery in 2021.”