First Pre-Let For Leeds’ Largest Office Refurb
07 Jun 2016
Global media and communications agency, Dentsu Aegis Network has signed the first pre-let deal at one of Leeds' largest office refurbishment projects, 6EP, with a 10 year lease for 13,509 sq ft of offices on the top two floors of the East Parade office building.
Dentsu Aegis Network is the home of multiple global media, digital and creative communications brands and services. The new Leeds office will be occupied by some 100 staff from brands Carat and iProspect, who have relocated from two existing offices at West One and the Round Foundry in Leeds into the fourth and fifth floors at 6EP.
A £3.5 million investment programme is currently being undertaken at 6EP by the joint venture partnership of Bridges Ventures, the specialist sustainable and impact investor and Evanacre to transform the 42,000 sq ft property into stunning Grade A offices, providing cutting edge accommodation over 6 floors with secure basement parking.
Work is currently underway on site and when completed in the next few weeks, the prominent building will benefit from a new external façade, two newly glazed floors providing views over the city’s skyline, an extended ground floor entrance and the highest grading of offices. Additionally, bespoke external occupier space will be in place with outdoor seating and a broad range of sustainable features, such as photovoltaic panels, will have been introduced.
Located on the city’s main loop road network and with Leeds City Train Station and Trinity Shopping Centre just a short walk away, 6EP occupies one of the most coveted addresses within Leeds City Centre and the investment will deliver a much-needed addition to the Leeds office market where demand is outstripping current supply.
Dominic Geary, Managing Partner at Dentsu Aegis Network Leeds, commented; “When looking to bring together our employees from our two Leeds offices into a state of the art and sustainable office to reflect our agency’s aspirations and culture, 6EP perfectly fitted the bill. Combining our two offices presents us with the opportunity to move all of our experience and expertise under one roof, which is something that both our clients and employees will truly benefit from. The move into 6 East Parade, along with recent new client wins across both Carat and iProspect have helped to cement our position as the leading media agency within the region.”
Alex Hailey, Associate Director of Office Agency at CBRE, said; “The occupier was seeking exceptional quality offices in the heart of the city centre in a building reflective of their dynamic brand. The redevelopment of 6EP, a strategically positioned building within the heart of the business district, is an important addition to the Leeds office market at an opportune time and this significant pre-let to an established global organisation demonstrates the building’s appeal.”
Paul Jones, Managing Director, at Evanacre, said; “With demand for quality offices in Leeds City Centre outstripping supply, we were confident that the time was right to press ahead with the investment into 6EP. This pre-let confirms that occupier confidence has returned to the market and we are delighted to have secured our first occupier in advance of practical completion of the building.”
Paddy Carter, Associate Director, at Savills, commented; “We are very pleased that this prominent firm has chosen to consolidate its operations in Leeds to 6 East Parade. The redeveloped building combines a sought after location with high quality office space and excellent sustainability credentials. We are already in talks with a number of potential occupiers about the remaining space.”
Bridges Ventures LLP (“Bridges”) is a specialist fund manager focused exclusively on sustainable and impact investment. It invests in SMEs, properties and social organisations that can generate positive impact for society and superior returns for investors, focusing on four key impact ‘themes’: health & wellbeing, education, sustainable living and under-served markets. Its property funds typically invest in niche sectors, regeneration areas and buildings showing environmental leadership. Bridges now manages almost £600 million across its Sustainable Growth, Property and Social Sector funds.
Joint agents on 6EP are CBRE and Savills.