Genuit moves to new headquarters in Leeds to retain strong Yorkshire links

The firm, formerly known as Polypipe, said the move will enable its Doncaster site to expand as it moves its headquarters to Leeds.

Martin Payne, chief executive at Genuit, said, “We are delighted to be moving our corporate office team to our new headquarters in Leeds, retaining our strong links with Yorkshire whilst enabling our colleagues on site in Doncaster to continue to expand.

"We look forward to welcoming all our stakeholders to our new office in due course.”

4 Victoria Place is owned by Medical Protection Society (MPS). The manufacturer has signed a 10 year lease on the 11,750 sq ft office building, which is in the popular South Bank district of Leeds.

Rob Hemson, executive director, finance at MPS, said: "MPS holds property assets on behalf of our members and we have full management of all three freeholds in this attractive, gated office development located along the Leeds South Bank.

"We are delighted to see Genuit become the new tenants at No.4, a space with great potential in an ideal location in the city.”

Richard Dunn, office agent at Sanderson Weatherall, who marketed the property said, “4 Victoria place is a fantastic, self-contained office building, providing Genuit with Grade A space in a thriving area of the city. We are pleased to have secured this deal for MPS.”

Sanderson Weatherall acted on behalf of landlord MPS and Howell Brooks acted on behalf of Genuit. LSH and Sanderson Weatherall are joint leasing agents for MPS.

Last month, Genuit said the UK market outlook for its second half was generally encouraging, with strong demand in most parts of the UK construction market, particularly in residential.

It said this was driven by the new housebuild sector and private RMI (repair maintenance and improvement), which performed relatively well throughout the pandemic.

Despite buoyant demand, Genuit said that structural labour supply constraints and cost inflation primarily affecting raw materials and transport costs, will provide some risk to its financial performance for the remainder of the year, although the group is taking action to help mitigate this.

It said that trading has started well in the second half, and the board now expects that underlying operating profit for the full year will be ahead of previous management expectations.