Wilton Commence 10M City Centre Office Re-Development
Monday, 01 February 2010
Harrogate-based Wilton Developments is providing Yorkshire's commercial property market with a welcome injection of confidence by embarking on Leeds' only current speculative city centre office scheme.
Defying tough economic conditions, Wilton has secured planning permission and is now progressing with its re-development of 10 South Parade - Leeds' first Grade A+ city centre office scheme to come to market in 2010.
Jason Stowe, managing director at Wilton Developments, confirmed: "In the context of the current market, the development of 10 South Parade reflects our confidence and commitment to Leeds.
"The building will undergo an extensive re-development programme, effectively creating a new building. 10 South Parade will provide 36,000sq ft of high quality, air-conditioned accommodation with Grade A+ specification which has already attracted a number of interested potential tenants."
Planning permission was secured to include a radical transformation of the external fabric of the building, a re-positioning and improvement of the entrance area, the enlargement of the first floor and the addition of a glazed top floor with balconies.
Stainforth Construction Ltd has been appointed to undertake the re-development and is now on-site with work expected to be completed by autumn 2010.
Set in a prominent position on South Parade fronting the Leeds Internal Loop Road, the development will provide five storeys of high quality energy-efficient office space that exceeds the latest standards and is expected to achieve a BREEAM environmental assessment rating of Very Good.
Mr Stowe continued: "Our aspiration for 10 South Parade is to create an office environment of the very highest standard while ensuring that it provides efficient and flexible accommodation to exceed tenants' requirements."
WSB Property Consultants, DTZ and Knight Frank are the agents for the development which will incorporate basement parking, a secure cycle store and sporting club quality male and female changing rooms with showers.
Robin Beagley of WSB added: "This is a significant landmark development for Leeds and is a reflection that we are starting to see signs of improvement in sentiment from businesses in the city."
He added: "10 South Parade will plug a gap in the market for Grade A office space with the flexibility to appeal to a wide range of potential occupiers."
Guy Cooke, at Knight Frank, concluded: "Wilton's decision to undertake the speculative development of 10 South Parade is great news for the Leeds market and will offer occupiers a truly stunning space."
Notes to editors
Wilton Developments is the property development vehicle of the Moore Family interests. It is active in the north of England and is primarily interested in development opportunities in the commercial and residential sectors. New build, refurbishment or investment opportunities are sought. Typical value lot sizes range between £1m - £25m for land/building purchases without income.
WSB Property Consultants (WSB)
WSB is Leeds' newest multi discipline commercial property consultancy with an unrivalled team of experienced property professional focused on the regional property market. Its expert team delivers a full spectrum of transactional and consultancy services and business-driven innovative property solutions for clients.