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News Release

Leeds

First Leeds office investment deal of 2017 completes

JLL completes sale of Gallery House & Phoenix House


Leeds, 1 February 2017 – Acting on behalf of LaSalle IM, JLL has sold two adjoining multi-let office buildings in central Leeds to Wilton Developments acting on behalf of HEADROW Limited.

Gallery House located on The Headrow and Phoenix House located on South Parade were purchased were sold on behalf of clients of LaSalle for £5.8M. The properties comprise a total of 43,000 sq ft and are let to a number of high profile tenants, including Superdrug, Remploy, the Driving Test Centre and Leeds Beckett University.

Mat Atkinson , Director of JLL who advised LaSalle on the sale, said; “Our client has owned the assets for almost 10 years and the fund came to the decision that market conditions were favourable to progress a sale.”

Managing Director, Jason Stowe of Wilton Developments, who will asset manage the properties on behalf of Headrow Limited commented ; "Gallery House and Phoenix House are prime Leeds office investments providing a good income return as well as having excellent rental growth prospects.”