Sterling Capitol has sold two prime office assets at Capitol Park, Leeds, for an undisclosed price.
Specialist healthcare investor Assura has bought the 4,862 sq ft 1 Sterling Way (pictured), which is occupied by Create Fertility on a new 10-year lease, and the family-owned property company Real Estate Investment Group has acquired the 7,000 sq ft 2 Sterling, occupied by Ideal Boilers on a recently regeared 10-year lease.
Tom Brown, senior development surveyor at Sterling Capitol, said: “We let and regeared the two properties in early 2022 to make the two investments as attractive as possible. We were delighted that we achieved in excess of our business plan valuations which shows there is still strong sentiment in the market for quality assets occupied by high calibre tenants”
“These two deals are part of our strategy of selling our non-core assets. Upon the successful execution of our business plan, Sterling’s strategy is to focus on the identification, promotion and development of strategic employment land along prime motorway junctions across Yorkshire and the North East. We have some extremely exciting plans in the pipeline, which will create much-needed business space and jobs for the region.”
Corinne Travis of Knight Frank, who advised Sterling Capitol on the two deals, added: “It is fitting that two of the most significant out-of-town sales at the end of last year took place at Capitol Park, Leeds, one of the first – and best – business parks in the county, capturing the conurbations of both Leeds and Wakefield.
“Sterling Capitol have a fantastic track record of developing quality business parks in strategic locations in Yorkshire. These two deals are a testament to the company’s achievement.”
