Commercial Property
Development & Investment
0161 820 7610
Property investment and development company, Patrick Properties has made its second major acquisition in a month having agreed to purchase a 35,000 sq ft office building in Leeds from Henry Smith Charity Limited for £6,750,000, reflecting a net initial yield of 10.15%. The deal follows hot on the heels of the ambitious companyís recent purchase of its new headquarters, Bow Chambers, a 16,500 sq ft office building in the heart of Manchester city centre.
One Victoria Place, which is fully let to the Royal Bank of Scotland, is one of Leedsí most prominent office buildings situated near the Southern Gateway of the Central Business District.
Andrew Dickman, Managing Director of Patrick Properties, comments: ìIt has been a long term ambition of ours to own a significant building in Leeds and with a high calibre tenant such as RBS, we believe that this will prove to be a valuable part of our long term portfolio.î
Mr Dickman continues: ìThese recent deals demonstrate our ability to act quickly to opportunities and highlight our commitment to expand into the city centre property market.î
King Sturge acted on behalf of Patrick Properties. Jones Lang LaSalle represented the Henry Smith Charity Limited.
