One of Leeds’ landmark buildings may be acquired by its biggest tenant in a multi-million pound deal.
The Tannery, Kirkstall Road, a mile from Leeds city centre, has long been bought because of the city’s largest independent provider of serviced offices, Bracken Business Centres, from development company, CDP Marshall, Elland, within the deal funded by Handelsbanken’s Wellington Street branch.
Completion with the deal sees Bracken Business Centres, who has leased 13,500 sq . ft . along at the Tannery being a business centre since 2010, access another 11, 500 square foot of offices who’s has recently leased to debt recovery specialist BW Legal.
The property, over a 1.7-acre site including vehicle parking, was in-built 1876 by Firth and Kendal, Idle, Bradford, for Leeds industrialist William Paul and initially produced leather for shoes, harnesses and industrial use. Famously, it had been the regional head offices of Arla Foods and Craven Dairies.
Bracken Business Centres has been specifically backed up by Handelsbanken in refinancing its flagship centre, Calls Wharf, which opened in 2008 and contains 33 offices on four floors with 20,000 sq . ft . of work space. The corporation bases its centres in characterful properties and concentrates mainly, and not exclusively, on lettings to businesses beyond your core corporate market for example the creative sector.
Bracken Business Centres md, Neil Clark, said: “Demand for high-quality, serviced and managed office space in Leeds city centre is increasing, and finding the Tannery provides greater opportunities to expand numerous growing companies in this portfolio.
“We’re pleased that Handelsbanken has recognised our strong position in the marketplace and our growth potential and has supported us in this particular acquisition and that is an essential stage within our expansion.”