Greek Street building in Leeds bought in off-market deal

A city centre office building, which is also home to a popular bar, has been bought in an off-market deal.

Catella APAM, the specialist UK & Ireland real estate asset manager has acquired 12 Greek Street in Leeds from Epsilon Real Estate Partners on behalf of its Cape Town based client, New Property Ventures (NPV).

Comprehensively refurbished in 2016, 12 Greek Street has access to both Greek Street and Russell Street.

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The building totals 23,500 sq ft set over seven floors and is fully let to eight tenants including Netcompany UK, First Intuition Leeds and Marstons. The ground floor is occupied by The Lost & Found bar.

12 Greek Street, Leeds.12 Greek Street, Leeds.
12 Greek Street, Leeds.

Andrew Day, senior asset manager at APAM, said: “We are delighted to acquire 12 Greek Street as part of the continued expansion of NPV’s UK regional office portfolio, which now exceeds £70m.

"The asset is in an excellent location, based in the heart of the cities CBD (central business district) and high-end leisure pitch ensuring it benefits from the cities vast transport network.”

He added: “12 Greek Street presents several asset management opportunities and, following the recent leasing success at APAMs One City Square and 2 Whitehall Quay assets, we will utilise our extensive knowledge of the local market and asset management expertise to reposition the asset as best in class office provision to reflect the markets continuing demand for good value, high quality accommodation which is complemented by a strong amenity offering and ESG strategy.

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"It also typifies the ongoing investment we make into our assets throughout the portfolio.”

Scott Shufflebottom of Sixteen Real Estate acted on behalf of Catella APAM and Graham Foxton of Knight Frank acted on behalf of Epsilon Real Estate Partners in the transaction.

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