Property firm expands office portfolio in Leeds

A Yorkshire property developer and investor has expanded its portfolio by buying two office buildings in Leeds city centre.

Hull-based Wykeland Group has acquired Central House and 13-14 Park Place from asset management and investment company Moorgarth Group.

Located in the city’s central business, legal and professional services district, the neighbouring properties provide almost 16,000sq ft of office space and are within a five-minute walk of Leeds Railway Station.

Central House comprises 10,000sq ft across five storeys, while Grade II-listed 13-14 Park Place provides 5858sq ft over four floors.

Park Place is fully occupied, with tenants including Moorgarth, Key Capital Partners and digital marketing agency Bidmark.

Central House tenants include MacIntosh James and Partners, Ultimate Finance and planning consultancy Peacock and Smith, with one floor currently vacant.

The acquisitions build on Wykeland’s existing Leeds portfolio, which includes Elizabeth House near Wellington Place.

Purchased in 2024, the building is fully occupied by law firm Clarion Solicitors.

Liam Knaggs, Wykeland’s head of business space, said: “We’re delighted to have acquired these two prime properties.

“The buildings complement each other, as well as our existing Leeds office asset, Elizabeth House, with Central House being a modern property offering larger units, and Park Place being a picturesque listed property with smaller suites.

“These buildings are excellent additions to our growing portfolio of office spaces. We’re excited to invest in the remaining vacant unit in Central House, giving it a fresh new feel and creating a high-quality space which a business can move straight into.

“The properties already have a very strong yield of nearly ten per cent and we’re confident we can take that into double figures with the investment in the remaining available unit.”

Carrick Real Estate and Andrew Jackson Solicitors advised Wykeland on the acquisitions, while NorthCap, Argo Real Estate and Walker Morris advised former owner Moorgarth Group.

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