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10 South Parade Lands Another Letting

Wednesday, 21 March 2012

Wilton Developments' 10 South Parade has secured another letting, the second in as many weeks, taking the building to 85 per cent occupied.

Wilton has let 6,300 sq ft on the ground floor of 10 South Parade to multi-national insurer QBE Insurance, who is the official insurance partner of England Rugby.

The deal sees QBE Insurance take a 10 year lease. This newly acquired office is in addition to QBE's Central Park offices and will meet the needs generated by its growing Leeds presence.

This announcement is in quick succession to the letting of 7,000 sq ft - the whole of the third floor - to accountants and business advisors PKF (UK) LLP which was secured earlier month.

Jason Stowe, managing director of Wilton Developments, comments: "We are really pleased to welcome QBE Insurance into the development and the firm goes a long way to complement the high quality occupier line up in the building.

"10 South Parade is now 85 per cent let as we approach the first anniversary of practical completion. Considering the general market conditions and wider economy I am particularly pleased with this level of occupancy.

"This degree of office space take up is a true endorsement of the building's quality which was highlighted by the winning of the British Council for Offices Award last year. There is no better indicator of a buildings quality than its attractiveness to tenants, which is borne out by the quality of its occupiers."

Eamon Fox, associated director at DTZ who acted for Wilton Developments commented: "10 South Parade was the only speculative office scheme in Leeds to get underway last year and we are immensely pleased to have secured QBE Insurance, adding to an already inspiring occupier profile. QBE wanted to acquire the best business space in Leeds when they began the process of acquiring new offices last year and this has certainly been achieved at 10 South Parade."

10 South Parade now only has two remaining suites, 1,990 sq ft on the ground floor and 3,650 sq ft on the second floor.

Other occupiers in the building include, Xafinity Consulting, Odgers Berndtson, Lockton Insurance, PKF and Wilton Developments.

DTZ, part of UGL Services, a division of UGL Limited (ASX: UGL) secured the letting.