Topland Group has taken charge of the Oxford House office building in Leeds’ business district in a £5 million deal overseen by Cushman & Wakefield.
Vendor Samara Group acquired the 33,181 sq ft building for £2.5 million back in 2014 before undertaking an extensive refurbishment programme.
Located on Oxford Row opposite Leeds Combined Court Centre, the five-storey office building is home to 22 occupiers including Morrish Solicitors and Exchange Chambers and generates a total net income of £488,444 per annum.
“This deal provides an excellent example of where Samara Group have enhanced asset value through refurbishment and a successful letting strategy,” said Richard Brooke, Associate in Cushman & Wakefield’s Investment team in Leeds.
“The investment generates an attractive yield as well as offering ongoing asset management opportunities to further drive value.”