Aire Street Workshops: Small businesses to get reprieve as new owner takes over

Businesses operating from the space were previously told that they had until the end of January this year to vacate the building, after the council announced that it would dispose of the site due to budget constraints.

The site's new owner, office group WorkWell, said that though some businesses had left the premises prior to its sale due to uncertainty, around 80 per cent remained. The company said that all remaining businesses would be offered space in the building.

WorkWell said that it now plans to “improve the quality” of the building's interior over the coming months.

The company did not confirm whether or not it plans to raise prices for occupiers, but said it would sit down with businesses in the coming weeks to discuss plans.

Commenting on the move, Oliver Corrigan, managing director of WorkWell, said: “We are pleased to allay any fears the current occupiers had about the building being sold and converted into flats.

As a leading provider of serviced office space, we plan to improve the working environment of the building over the coming months. All the current occupiers will be offered space in the much-improved workspace.”

Tenants in the building previously set up a crowdfunding campaign to raise money to buy the premises and later put in a bid.

An update posted on the campaign page in January said: “Unfortunately the bid we submitted to the council was significantly lower than the largest bid despite our bid being higher than the independent valuation the council asked us to conduct. On that basis the council has decided to take the higher bid and we have failed in our attempt to save the building.”

A spokesperson for Leeds City Council said: “The decision to sell Aire Street Workshops was not an easy one, but the unprecedented financial pressures that the council – in common with other local authorities around the country – is facing meant it was a step we had to take.

“We recognise that this has been a concerning time for the businesses based at Aire Street, who have made and continue to make an important contribution to Leeds’s creative sector.

“The Council paused the sale on the open market to allow the businesses located within the building to bring together a proposal and offer to purchase. Offers from a number of parties were received – including the current occupiers. The successful bid was the highest received.

“The conclusion of the sale will hopefully now allow the businesses to look to the future with more certainty. The improvements planned by WorkWell promise to usher in a new era for this historic building and the council welcomes confirmation that the current occupiers will have the opportunity to be a part of it."

WorkWell said it was "determined to make it businesses usual for firms in the building".