Leeds grade A office provision raised - commercial mortgages

20 February 2008

In news which may interest those with commercial mortgages, a new refurbishment of an office building in Leeds has been completed, adding to the availability of grade A office space in the city.

The work, carried out by Wood Mitchell, has upgraded the 61,000 sq ft One Leeds City Office Park, TheBusinessDesk.com reports.

Eamon Fox, a spokesman for DTZ, an investor in the project, told the website: "Leeds city centre has seen a high level of occupier activity over the preceding six months, particularly from the legal sector, resulting in diminishing levels of stock."

The extra demand for grade A office space may suggest that this sector of the commercial property industry is in a healthier situation than some may imagine.

Last week Mike Ingall, whose Allied London company is behind the creation of the Spinningfields business district in Manchester, told the Manchester Evening News that the firm''s new 3 Hardman Street development would have "not a lot" of unoccupied office space once it is completed.