Commercial mortgage holders in Yorkshire 'see return of confidence'

05 July 2010

Written by Gavin Elley

One commentator has suggested that commercial mortgages holders in Yorkshire may see greater confidence in the local market, as three deals are signed.

Gatehouse bank, Invista Foundation Property Trust and Bruntwood have all invested in office space in the county, according to Ian Briggs of the Business Desk.

One Sovereign Street in Leeds was acquired for £40.17 million by a sharia-compliant Islamic financial institution.

The building, which is over 139,000 sq ft in size and is already home to BT's regional headquarters, is Gatehouse Bank's third real estate investment in the UK, following purchases in Surrey, Liverpool and Loughborough.

Bruntwood has also bought property in Yorkshire, paying an undisclosed sum for City House, which will bring the firm's total office space in Leeds to 390,000 sq ft.

Craig Burrow, the company's head of sales and development in Leeds, said: "We're looking forward to playing a greater role in Leeds' property market and we're keen to acquire more space in the future."

Both deals follow a £10.2 million investment by Invista Foundation Property Trust in The Portergate - a 50,343 sq ft building in Sheffield, Mr Briggs reported.

This news follows the prediction of Premier's Alex Ross, who felt there would be a drop in the growth of the commercial property sector, according to City Wire.

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