Leeds office building sold to international company for more than £20m
A Leeds building has been sold to an international buyer for more than £20m.
The waterfront city centre office building, 3-4 Embankment, was purchased by ADAPT Real Estate and Hong Kong-based Ship Street Advisors for £20.5m.
The property is currently multi-let, with tenants including the NHS and Aon.
Savill Leeds advised on the deal, which marks the first acquisition for the second UK Regional Office Partnership (UKRO).
Mark Wilson, investment director at Savills Leeds, commented: “3 -4 Embankment offers high quality, well-located workspace in a highly attractive occupational market so this purchase marks an excellent acquisition for our client.”
Adam Fletcher, partner at ADAPT Real Estate, said: “We are delighted to have acquired UKRO’s second major asset in Leeds.
“The city centre is like many in the UK and continues to see strong occupational demand for well specified, well located office space.
“We have already successfully improved and repositioned Park Row House in Leeds to target this market, and look forward to adding Embankment to our portfolio.
“Since founding ADAPT in 2009 we have demonstrated very clearly that we are capable of identifying investment opportunities and delivering benchmark-beating returns.”
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