Former directors of long-term owner-occupier North America Travel Service have sold the 6,600 sq ft Leeds office asset to Regional REIT.<\/p>\n
Fox Lloyd Jones worked for the ex-NATS directors on the disposal of the 6,617 sq ft Victoria Road building, following the firm\u2019s relocation to Water Lane.<\/p>\n
Regional REIT is externally managed by pan-European real estate investment management firm ESR Europe.<\/p>\n
ESR said the acquisition represents a strategic move in a long-term investment strategy to consolidate and enhance its existing Central Park holdings immediately adjacent and offers short term re-letting potential.<\/p>\n
The Kennedy Building occupies a prominent 0.24-acre site at 48 Victoria Road, directly adjoining Central Park, a substantial multi-let office development already under Regional REIT\u2019s ownership.<\/p>\n
Brought to market in February this year, the building attracted considerable interest for a wide range of uses both as existing and subject to redevelopment.<\/p>\n
In the immediate term, Regional REIT plans to bring the building to market for lease, while concurrently developing long-term plans for site redevelopment. These plans have been unlocked by the recent lifting of HS2 safeguarding in the area, opening up new opportunities across Leeds\u2019 South Bank regeneration zone.<\/p>\n
Eamonn Stones, senior asset manager at ESR Europe, said: \u201cThis acquisition marks an important step in our wider growth strategy to assemble and optimise Central Park. The\u00a0Kennedy\u00a0Building enhances our footprint and unlocks future potential for redevelopment.\u201d<\/p>\n
The vendors were directors of Kennedy Travel (Yorkshire) Ltd trading as NATS, which was then acquired by Brooklyn Travel.<\/p>\n
Nick Salkeld, director at Fox Lloyd Jones, said: \u201cWe\u2019re pleased to have secured a successful outcome for our clients, marking a new chapter for the building and NATS who have been owner occupiers since 1998.<\/p>\n
\u201cThe opportunity generated strong interest from both owner occupiers and developers due to its lot size as a freehold HQ office offering development potential in this exciting area of the city.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Former directors of long-term owner-occupier North America Travel Service have sold the 6,600 sq ft Leeds office asset…\n","protected":false},"author":2,"featured_media":325544,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8814],"tags":[748,393,4884,1860,16,15],"class_list":{"0":"post-325543","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-leeds","8":"tag-britain","9":"tag-england","10":"tag-great-britain","11":"tag-leeds","12":"tag-uk","13":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114988249599388650","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/325543","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=325543"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/325543\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/325544"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=325543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=325543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=325543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}