Colliers International acquires 100,000 sq ft property in Leeds on behalf of Aviva
Colliers International has acquired Hepworth House in Leeds’ city centre on behalf of Aviva Investors for GBP15m, a yield of 7.53 per cent.
The 100,000 sq. ft. call centre building, located directly opposite the new Leeds Arena and adjoining the new Premier Inn hotel to the north of the city centre, is occupied by FTSE 100 company Capita, where a 14 year lease agreement remains in place.
Richard Walsh at Colliers International, who acquired the asset on behalf of Aviva Investors, says: “Capita is an undoubted covenant and we have the business in place for a further 14 years as Tenant. This building is some 22 stories lower than its neighbouring hotel and student residential properties, thus making for an interesting development angle into the future. The arena opposite has already started to bring the office, leisure and retail core towards Hepworth House and long may it continue. This acquisition proves that the regions are alive and kicking for the right asset, tenant and lease.”
Hepworth House was one of the original buildings for Hepworth’s which eventually became Next Plc.
Cushman and Wakefield sold the asset on behalf of their retained client, Next Plc. The building had not been transacted since it was built some 113 years ago.