In response to diminishing office availability in Leeds city centre, North West based property development and investment company Patrick Properties has launched a £2 million refurbishment programme which will transform 1 Victoria Place, which is set to be the only self-contained office building of its size and specification ready for occupation in central Leeds by the end of 2013.
The extensive refurbishment programme will see the entire 32,650 sq ft five storey office building upgraded to a Grade A specification including full raised access floors, suspended ceilings with recessed lighting, washrooms to each floor, and upgraded communal areas including a large feature reception area. In addition, there is also the opportunity to provide occupiers with an additional 6,400 sq ft meaning the building could provide up to 39,050 sq ft of space. Work is now underway with a completion date of December 2013.
WSB Property Consultants LLP has been appointed to join the existing letting team of Bray Fox Smith and Jones Lang LaSalle with the remit of attracting businesses to 1 Victoria Place, at a time when Grade A office supply within the city centre is now severely restricted.
Jordan Kennedy from Patrick Properties said: “Across the UK’s regional office markets, and particularly in Leeds, we have seen far more significant Grade A deals completing in the first half of the year. We feel this is now the ideal time to significantly enhance the space at 1 Victoria Place which undoubtedly represents a superb offering to the market given the quality of the building, accessibility, its substantial car parking provision and excellent public transport links.
“It’s great to have WSB on board to promote, what we anticipate will be some of the best office space in the city, and I believe they are an important addition to our existing letting team in attracting new occupiers.”
Robin Beagley from WSB added: “At a time when Grade A office supply is now extremely limited 1 Victoria Place holds an enviable position offering a product not readily available elsewhere in the market. Patrick Properties is making a very strong statement with this speculative refurbishment programme to deliver much needed office space to the market and we are looking forward to working with the rest of the letting team in identifying a quality occupier for the building.”
