Wykeland Group has has acquired two office buildings in Leeds city centre from Moorgarth Group for an undisclosed price.
The firm has purchased the 10,000 sq ft Central House and 5,858 sq ft 13-14 Park Place buildings in the heart of the city’s central business, legal and professional services district.
The buildings back onto each other with Central House facing St Paul Street, and are within a five-minute walk of Leeds railway station.
Moorgarth previously occupied the first floor of Central House and has now relocated to a suite within Park Place, leaving its previous home as the only vacant unit across the two properties.
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 10% and we’re confident we can take that into double figures with the investment in the remaining available unit.”
