Manchester-based property firm Northern Group has acquired Sovereign House in the heart of Leeds city centre for an undisclosed price.
Originally built for The Bank of England, the Grade II listed site is now a destination leisure venue and mixed-use building, which benefited from recent investment of more than £1.8m.
The building’s 15,887 sq ft multi-level, split entrance leisure unit is occupied by Flight Club and Electric Shuffle, with flexible Grade A, Cat A and fully fitted office space on the upper floors.
Paul Dobbs, Northern Group’s chief operating officer, said: “This acquisition is an exciting one for Northern Group and takes us into another vibrant northern city and reflects our continued commitment to investing in future-facing city centres. Sovereign House’s unique position at the intersection of Leeds’ core commercial, leisure and retail districts makes it a fantastic opportunity for long-term value creation.
“Expanding into Leeds marks a significant milestone for Northern Group as we broaden our footprint beyond Greater Manchester and we’re thrilled to bring our proven model of high quality, design-led spaces and community-focused developments there. Sovereign House is just the beginning. Just as in Manchester, we see great potential in Leeds as a key hub for innovation, business growth and cultural vibrancy, and we look forward to opportunities to play a meaningful role in its ongoing transformation.”
