City centre offices snapped up in £23.7m deal

Property firm Epic UK bought St Paul’s House in Leeds from Boultbee Brooks Real Estate, which acquired the building two years ago for £11.7m.

The grade two listed building, which overlooks Park Square, had recently undergone renovation work to restore it to its former glory. The deal showed a net initial yield of six per cent.

Graham Foxton, investment partner with Knight Frank, who advised on the deal, said: “St Paul’s House is arguably the most striking building in the city centre and now its refurbishment is complete, it is a tremendous mixture of the old and the new.”

It was built in 1878 as a warehouse and cloth-cutting works for Sir John Barran, the founder of the mass-production, ready-made clothing industry in Leeds.

Today its tenants include Cushman Wakefield, DAC Beachcroft LLP and Quality Care Commission.