Friday, November 26, 2021

New joint venture buys prime Westbank site in Leeds

Stamford Property Holdings and Shelborn Asset Management have bought the prime Westbank site in Leeds from Lloyds Bank.

The purchaser was represented by Knight Frank, while the vendor was represented by CBRE and JLL.

The four-acre site, located next to the iconic Bridgewater Place and a few minutes from Leeds Station, currently houses a three-storey call centre office building with 117 car parking spaces.

Eamon Fox, partner and head of office agency at Knight Frank in Leeds, said: “This is the best development site to be offered to the market this year in the flourishing city of Leeds – bar none, thanks to its size and location. This is tremendous news for the city.

“Situated in the heart of Leeds’ South Bank regeneration area, Westbank is 350 meters south of Leeds Railway Station and offers direct access to the M621 and superb national motorway network.

“The surrounding area is a popular office location with nearby occupiers including ASDA, KPMG, BT and Yorkshire Building Society. Leeds has seen significant regeneration over the past decade and the planned redevelopment of the South Bank will double the size of Leeds city centre in the next ten years.”

Brian Rabinowitz, director at Shelborn Asset Management, explained that he was very excited about the purchase of such a significant site in the heart of the city of Leeds, where there was such a shortage of new build office stock within the city and the demand for space was clearly outstripping supply.

Uri Goldberg, director at Stamford Property Holdings, said: “We are delighted to be partnering with Shelborn on this exciting redevelopment opportunity. We look forward to working collaboratively with Leeds City Council to deliver a world class mixed use scheme with excellent environmental credentials at its core.”

Josh Morris, investment partner with Knight Frank in London, added: “We are pleased to have acted on behalf of Stamford and Shelborn on their purchase of Westbank, Leeds. The transaction represented an unrivalled opportunity to acquire a flagship site in the heart of Leeds’ major regeneration hub and to be part of the creation of a new community in the city.

“Leeds offers a diverse and robust economy, home to 20 FTSE 100 companies, over 100,000 students and a workforce of 1.9 million people. A major commercial and financial centre for Yorkshire and the North East of England, investment into the city remains strong and confidence is high.”

The Leeds offices of Knight Frank and CBRE have been retained as letting agents for the scheme.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemichaving a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.

Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.