Acting on behalf of Church Commissioners for England, Lambert Smith Hampton (LSH) has negotiated the sale of Vantage House, a Grade II listed, seven-storey office building in Leeds city centre, for in excess of £6.5 million.
The property, which comprises 27,697 sq. ft. and is currently fully occupied by The Secretary of State for Health on a lease expiring in December 2020, was purchased by charitable trust, Investream.
Vantage House is located in Leeds’ traditional business district within close proximity of Leeds rail station and retail core.
There are likely to be significant redevelopment opportunities at the end of the current lease, with the possibility to reposition the property on the market to capture occupier interest in creative workspaces, sparked by Channel 4’s decision to re-locate their National HQ to Leeds.
Rachel Vickers, Office Agent in LSH’s Leeds office, said: “Vantage House provides the purchaser the perfect opportunity to reposition this prominently located Grade II listed building when the current lease expires. The Leeds office market is performing strongly and with robust occupier demand particularly in the sub 5,000 sq ft size bracket, once refurbished, this space at Vantage House shouldn’t hang around long.”