ROYAL WELCOME AS FIRST NEW OCCUPIER MOVES INTO NEWLY REFURBISHED SOVEREIGN HOUSE, LEEDS28 February 2022
Hillview Real Estate, the UK regional office investor, advised jointly by Savills and WSB Property, has let office space at Sovereign House on South Parade in Leeds to Strativ Group Ltd.
The global recruitment agency has agreed to a new 10-year lease for 6,110 sq ft (567 sq m) on the second floor of the five-storey building and will pay an annual rent of £158,860.
This latest deal follows the comprehensive refurbishment of the Grade II listed building, which dates back to 1862. Works undertaken include a new high quality reception, bike storage and shower facilities, along with sustainable features such as LED lighting.
Currently a further 14,445 sq ft (1,341 sq m) remains available to let, at a starting quoting rent of £26.50 per sq ft.
Patrick Carter, director in the office agency team at Savills Leeds, commented: “Situated in the heart of Leeds’ financial district, Sovereign House offers premium Grade A office accommodation ideal for Strativ Group. Following the pandemic, we continue to see a flight to quality from businesses looking for the best possible space to both attract and retain talent as people continue to head back to the workplace. For this reason, we are already seeing significant interest in the remaining available space”.
Dom Ketteringham, asset manager at Hillview Real Estate, said: ““This lease agreement reflects the broad-based pick-up in occupational activity we are seeing across the portfolio and endorses our strategy of refurbishing well-located offices in regional cities to offer tenants a high-spec work environment with access to a wide range of amenities.”