Yorkshire House, Leeds
- Yorkshire House comprises of approximately 80,000 sq ft of multi let offices in the central commercial district of Leeds with restaurant and bars at street level
- The property was acquired in March 1999 for circa £8.5M from Royal and Sun Alliance
- The offices, built in the 1960's, were in need of substantial improvement and refurbishment to retain major occupiers including Lupton Fawcett Solicitors, AIG Insurance and John Gordon Walton Accountants
- Intensive asset management was undertaken which included taking surrenders of leases to assist with the expansion by Lupton Fawcett, negotiating lease expiries, refurbishing and reletting vacant suites. The tone of the rents in the building was increased from £10 psf to £14.50 p.s.f. over the period of ownership
- Planning consent for A3 on the ground floor was obtained and 5,000 sq ft was let to Whitbread PLC for 25 years at a rent close to £20 p.s.f., which was considerably in excess of the office rents
- A planning consent was obtained for a 5th floor extension and a new entrance canopy. Plans were also concluded for a major re-cladding of the building, installation of air conditioning, upgrade of the lifts and a general refurbishment prior to the sale
- The property was sold in March 2002 at a capital value of circa £12M