The Yorkshire Post and Yorkshire Evening Post newspapers are to take 35,000 sq ft of office space at an office building in Leeds, after deciding to sell their current headquarters on Wellington Street.
It is thought that the papers’ owner Johnston Press has taken a 10-year lease at IVG’s No 1 Leeds, at a rent of £24 / sq ft, although lease breaks and rent free periods are not known. The move will take place in around October.
Fox Lloyds Jones, which is the papers’ retained adviser, is expected to be instructed to sell the 4.5 acre Wellington Street headquarters building following the relocation.
The 122,000 sq ft No 1 Leeds was previously called Latitude Red, and was developed by BAM Properties. It was sold to IVG in 2007.
The scheme had been empty since completion in 2009, but in February IVG let one 15,000 sq ft floor to advertising agency Gratterpalm.
IVG has appointed Knight Frank as letting agent, alongside Jones Lang LaSalle. Bray Fox Smith is IVG’s national agent.
Paul Fox and Simon Lloyd, the two company directors managing the project, said that after a detailed search and review of multiple building options No1 Leeds was concluded to best fit the clients occupational criteria, and the large efficient floorplates and high specification were ideal for the current day occupational needs of the business.
Helen Oldham, managing director of Yorkshire Post Newspapers, said: “The move to No 1 Leeds will be transformative for Yorkshire Post Newspapers allowing us to strengthen our position as multi media publishers.”
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