Walker Morris Leeds headquarters sold to Swiss private trust
The Leeds headquarters of national firm Walker Morris has been sold to a Swiss private trust in a multimillion-pound real estate investment deal. Kings Court in Leeds city centre has been sold by a local investment team from property consultancy King Sturge, acting on behalf of Alliance Trust Real Estate Partnership, an investment company based in Dundee.
August 26, 2010 at 10:10 AM
2 minute read
The Leeds headquarters of national firm Walker Morris has been sold to a Swiss private trust in a multimillion-pound real estate investment deal.
Kings Court in Leeds city centre has been sold by a local investment team from property consultancy King Sturge, acting on behalf of Alliance Trust Real Estate Partnership, an investment company based in Dundee.
The property, which covers 47,698 sq ft, is let to Yorkshire leader Walker Morris at an annual rent of £891,000 on a 25-year lease which is due to expire in 2014. The deal is thought to be worth around £10m.
Walker Morris, a 51-partner firm based at the single site in Leeds, recently took a lead role on the £778m sale of Netto Foodstores to Asda, advising Danish retail group Dansk Supermarked – a long-term client of the firm – on the sale of its Netto subsidiary to Asda, which is owned by US giant Walmart.
The head of the King Sturge investment team, Andrew Summersgill commented: "At a time when income security is so important, it was encouraging to see the level of investor interest as prospective purchasers were undoubtedly attracted to these strong fundamentals which resulted in several offers for the building."
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