Law firm's headquarters sells to Swiss investors
The home of law firm Walker Morris has been sold in a multi-million pound investment deal to a Swiss private trust.
Kings Court, on the corner of King Street and Quebec Street in Leeds city centre, is believed to have been sold for about 10m by King Sturge acting for Alliance Trust Real Estate Partnership, an investment company based in Dundee. The deal, which represented an 8.4 per cent yield was less than the 17m paid by the Alliance Trust.
The 47,698 sq ft office building, which was built in 1989, is spread over seven floors and is let to Walker Morris at an annual rent of 891,000 on a 25-year lease, which expires in 2014.