Savills has represented Legal & General in the £5.27 million sale of Building 1200 on Thorpe Park Leeds to Due West Limited on behalf of its Managed Property Fund.
Fully let to Regus on a 25-year lease expiring in 2024, the property generates an annual income of £420,000.
Building 1200 provides 27,028 sq ft of office space set across two floors with a mixture of cellular office suites and meeting rooms.
Thorpe Park Leeds is a flagship scheme for the Northern Powerhouse agenda and is currently undergoing significant development including a 1.3 million sq ft expansion.
Simon Lister, Investment Director at Savills Leeds, said: “Building 1200 is a well located, good quality first generation office development which has benefitted from the recent development activity on the wider park, this allowed us to achieve a strong sale price for our client.”
Cushman & Wakefield represented Due West Limited.