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Confidence Yorkshires Office Market Returns

Wednesday, 19 May 2010

10 South Parade - the only speculative office scheme in Leeds to get underway this year - has secured its first letting.


Xafinity Consulting, the employee benefits and pensions services provider who was previously located at 9 South Parade, has signed a lease to take 8,200 sq. ft of office space in the new Wilton Developments scheme for its regional head quarters.


10 South Parade is a 36,000 sq ft office development that is undergoing an extensive refurbishment, re-build and revitalisation programme which will result in Leeds' first Grade A+ city centre office scheme to come to market when complete summer 2010.


David Emptage, director of Xafinity Consulting, commented: "The accommodation in our new office will benefit both our staff and clients. 


"We looked at other Grade A office space elsewhere in Leeds city centre, but believe the finished article here will be exactly what we and our clients need."


Jason Stowe, managing director of Wilton Developments, added: "When we announced the speculative scheme last year we said it reflected our confidence in Leeds and securing our first let so promptly is testament to this.


"10 South Parade will bring a truly unique product into the market, delivering a quality, not seen before and certainly justifying its Grade A+ branding. A number of size options can be catered for to include on-site car parking.  We anticipate a completion date of autumn 2010."


Adam Cockroft, director of Office Agency at DTZ, concluded: "We are delighted to have such a high profile occupier as Xafinity committed to the scheme.  They really have voted with their feet and, given the conversations we are having with other potential occupiers, we expect to have more positive movement in the near future."


DTZ, Knight Frank and WSB are advising Wilton Developments on the scheme.