Fox Lloyd Jones has sold The Kennedy Building, a 6,617 sq ft standalone property in Leeds’ South Bank district for £1.1m. It follows the relocation of the owners, North America Travel Service (NATS), to Water Lane.
Acting on behalf of the former directors of NATS, the property has been sold to Regional REIT, which is externally managed by ESR Europe.
The Kennedy Building occupies a prominent 0.24 acre site at 48 Victoria Road, directly adjoining Central Park, a substantial multi let office development already under Regional REIT’s ownership.
In the immediate term, Regional REIT plans to bring the building to market for lease, while concurrently developing long-term plans for site redevelopment. These plans have been unlocked by the recent lifting of HS2 safeguarding in the area, opening up new opportunities across Leeds’ rapidly evolving South Bank regeneration zone.
Eamonn Stones, senior asset manager at ESR Europe, said: “This acquisition marks an important step in our wider growth strategy to assemble and optimise Central Park. The Kennedy Building enhances our footprint and unlocks future potential for redevelopment.”
Nick Salkeld, director at Fox Lloyd Jones, said: “We’re pleased to have secured a successful outcome for our clients, marking a new chapter for the building and NATS who have been owner occupiers since 1998. The opportunity generated strong interest from both owner occupiers and developers due to its lot size as a Freehold HQ office offering development potential in this exciting area of the city.”
