December 9, 2016
Leading Yorkshire property developer and investor Opus North has sold The Bourse, the prestigious office and retail complex in Leeds city centre, for £8 million.
It has been bought by Paloma Capital, the London-based property investment company, who were advised by the Leeds office of global property consultancy Knight Frank.
The Bourse was bought out of receivership by Opus North, in conjunction with Palmer Capital in 2011, and has undergone a comprehensive refurbishment, including a complete mechanical and electrical overhaul.
It is a landmark building in Boar Lane less than 100 yards from Leeds Station and comprises 50,000 sq ft of high quality space over three buildings, overlooking a central courtyard. Its 20 tenants include multi-national office occupiers and retailers including William Hill, Evans Cycles, The Private Office, Allport Cargo Services and two convenience food operators.
Each of the buildings, Equity House, Sterling House and Bond House, has its own designated entrance with an NCP multi-storey car park to the rear.
Bond House and Equity House are now fully let but there is currently 2,400 sq ft of high quality office space available on one floor of Equity House.
Andrew Duncan, managing director of Opus North, has commented that: “There is now a strong financial services sector presence in the Bourse, including companies such as Portfolio Evaluation, JLT, TPO and Robert Half Ltd. The building is superbly located in the commercial and retail heart of Leeds and is close to Yorkshire’s excellent motorway network, as well as being next door to the station”.
The Bourse has benefitted significantly from the completion of the magnificent Land Securities scheme, Trinity Quarter, which has provided 1 million sq ft of Grade A retail space across the road. The adjacent Oakgate Group development opposite the Bourse has also helped to restore Boar Lane, one of Leeds’ most historic streets, to its former glory.
Andrew Duncan added: “On a personal note, I have fond memories of The Bourse, having had offices there with my former firm of property consultants Grenville Smith & Duncan in the 1990s and we were also the original letting agents for the building”.
Henrie Westlake of Knight Frank, commenting on behalf of Paloma: said: “The Bourse is situated in an excellent and improving location and Paloma will be looking to actively manage the building to further enhance the ‘tenant experience.”
Opus North were advised by Cushman and Wakefield and Singer Vielle.
For further information, please contact: Andrew Duncan, Opus North T: 01943 850 013