A major £3.2m refurbishment of One Embankment, the iconic office building on Neville Street in Leeds has been completed by local contractor Castlehouse Construction, delivering circa 50,000 sq ft of Grade A office space to improve the Leeds pipeline.
Joint marketing agents JLL and CBRE have also secured a new tenant in the newly renovated building. Financial services company, Interactive Investor has taken circa 16,000 sq ft on the 2nd and 3rd floors of the building.
One of the UK’s biggest flat-fee online investment platforms, Interactive Investor was attracted to the city centre location of the building with riverside offices close to the railway network and the competitive rates for space of this quality.
Leeds based Castlehouse Construction completed the programme of works despite a challenging climate during the pandemic. The building now offers 6 floors of Grade A office accommodation arranged over lower ground, ground and four upper floors, providing floorplates from 3,089 sq ft – 13,117 sq ft wrapped around a new landscaped courtyard. The building also features a prestigious, new business lounge for informal meetings, as well as on-site parking for 46 cars.
One Embankment is located at the southern gateway to Leeds City Centre, a short walk from Leeds Railway Station with excellent motorway networks. The repositioning of this landmark building, which has been vacant since 2015, will significantly contribute to Leeds’ office supply market.
Chris Drake, Contracts Manager, Castlehouse Construction commented: “We are delighted to handover the finished building following an extensive revamp to provide premium quality office space to the Leeds market. It will appeal to businesses large and small and it’s great to secure a large professional services firm in the new-look building.”
Alex Hailey, Director, CBRE Leeds commented: “The renovation of One Embankment really meets current occupier demand for quality office space in a city-centre location and is testament to the pre-let secured to leading financial services company, Interactive Investor. We are also seeing interest in the other available floors in the building.”
Tony Stott, Director, Building Consultancy at JLL said: “The successful refurbishment of the building has been delivered in very challenging conditions and credit should be given to the whole team for their dedication and professionalism.”
Paul Till, Head of National Business Space, LaSalle Investment Management commented: “On behalf of our retained client, we are absolutely delighted to launch a superb grade A refurbished office building in such a good location. The finished building has unrivalled amenity with a high quality ground floor reception and business lounge, river terrace and excellent levels of secure, on-site car-parking. In terms of rent, the property is priced extremely competitively considering the quality of the accommodation offered.”
The project team included Project Manager JLL; Architects Harris Partnership; Construction Consultants RPP and Engineering Consultancy Hannan Associates UK.
The agents acted on behalf of LaSalle Investment Management who took over the fund which owns the building earlier this year.