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Wilton Commence Second City Centre Office Redevelopment

Thursday, 10 February 2011

Wilton Developments is on site with its second speculative development in Leeds City Centre

Formerly known as Midland House, and previously occupied by HSBC, 28 Bond Court was bought by Wilton Developments in September last year and will now undergo major refurbishment and modernisation.

When complete in September 2011, it will deliver 15,250 sq ft of quality Grade A office and retail space to the Leeds market. Planning permission is expected soon on the ground floor retail elements of the scheme.

In quick succession to the success of Wilton Developments' 10 South Parade - Leeds' only speculative office development of 2010 which is now more than 50% pre-let - 28 Bond Court will provide smaller occupiers with an opportunity to lease high quality contemporary office space in the heart of the Central Business District.

Eamon Fox, associate director of DTZ's Office Agency Team, in Leeds, commented: "The property will deliver individual suites of 1,000 sq ft upwards, which will give occupiers - in particular smaller companies - a quality alternative to expensive serviced accommodation.

"There is no shortage of Grade A accommodation within Leeds City Centre for larger occupiers, although smaller occupiers are forced to either occupy serviced accommodation or in many cases occupy accommodation not reflective of their aspirations. 28 Bond Court will offer wonderful alterative, small suites of an exemplary standard in a prime location."

James Scott, development manager at Wilton Developments, commented "We have seen a gap in supply for true high quality accommodation in Leeds for small to medium sized firms and that is where 28 Bond Court will come into its own.

"We will have floorplates of 2,500 sq. ft and will be able to offer occupiers small suites to meet the needs of their business. We will deliver the best in office design, without compromising on quality. We will be onsite on Monday 7th February to commence stripping out works, with a view to delivering the scheme during September 2011."

Richard Shuttleworth, director at Pudney Shuttleworth added: "We have set aside the ground floor of the building for retail use and given current interest, it is envisaged a high end coffee house or delicatessen type occupier will be secured shortly. There is excellent pedestrian footfall past this centrally located building and we watch with interest as the development takes shape."

DTZ and Knight Frank are acting as joint letting agent, with Pudney Shuttleworth appointed to market the ground floor retail space.

Wilton's 10 South Parade is a 36,350 sq ft office development that is also undergoing an extensive refurbishment, re-build and revitalisation programme, which will result in Leeds' first Grade A+ city centre office scheme.

Wilton Developments has already secured a pre-let of 9,400 sq. ft to Xafinity Consulting; 3,200 sq ft of second floor office space to Odgers Berndtson and 2,640 sq ft on the top floor to Lockton Insurance at a new Leeds record rent of £28psf.

With its most recent letting to Lockton, the scheme is now 50% pre-let, with completion of the whole scheme due this month.