Barnett Waddingham has committed to a new Leeds office building which is under construction

Barnett Waddingham, which is relocating from Pinnacle on Albion Street, will pay £37 per sq ft with a 10-year break on the 15-year lease.

City Square House is a 140,000 sq ft speculative development, which fronts City Square and sits adjacent to Leeds Station.

The 12-storey building includes terraces on the 4th, 5th and 6th levels and cycling, electric vehicle and e-bike charging point facilities.

Practical completion of the building, constructed by Design & Build contractors McAleer & Rushe, is scheduled for early next year.

Barnett Waddingham will join law firm DLA and Markel, which provides insurance, tax and legal services to SMEs, in the building. Together, these two companies have taken a combined total of 103,000 sq ft.

Angus Monteith, development director at MRP, said: “We are delighted to welcome a company with such an excellent reputation as Barnett Waddingham to City Square House. This latest signing means the development is now 85 per cent pre-let with a final 22,000 sq ft available.

“Securing a 15-year pre-let deal is a very significant and positive statement of intent in the long-term future prosperity of office space in Leeds and, indeed, in urban centres throughout the UK. As we near completion of construction in early 2024, we expect this strong demand for the best workspace will continue.”

Eamon Fox, partner and head of office agency at property firm Knight Frank in Leeds, advised the landlord. He said: “The Barnett Waddingham deal completes a magnificent hat-trick of high calibre companies moving into City Square House.”

He added: “This is a significant deal for the city of Leeds, a vote of confidence in the city and its economy. Amidst this challenging economic climate, this is just the boost the whole region needed and a genuine cause to be optimistic about the commercial property sector in Yorkshire.”