Barratt Homes invests in Leeds

Barratt Homes invests in Leeds

Barratt Homes has committed to investing in Leeds after completing one of the most significant out-of-town office deals this year.

The move sees Barratt move into Raynham House at Capitol Park, by Junction 28 of the M62, taking 12,700 sq ft on a five-year at £16.50 per sq ft.

The deal is a telling indication that confidence is returning to the Yorkshire out-of-town business park market, according to Elizabeth Ridler of Knight Frank in Leeds.

Ridler, who advised Sterling Capitol, said: “Developers Sterling Capitol have created one of the most impressive business parks in Yorkshire, with an excellent mix of tenants and facilities.

“This significant deal proves that business locations such as Capitol Park remain popular in a rapidly improving economic climate.

“Barratts were looking for a self-contained high-quality and attractive office space in an excellent location for more than 90 employees.

“Capitol Park ticked all the boxes. It is next to the M62 and within five minutes of the M1, so it has tremendous access to Yorkshire’s superb motorway network.”

Barratt Homes were advised by property consultancy Holder and Co, while the Leeds office of JLL are joint marketing agents with Knight Frank for Capitol Park.

Richard Thornton of JLL added: “Once again this deal demonstrates a flight to quality. Successful companies such as Barratt Homes want high-spec premises which reflect their profile and reputation and Raynham House, a quality office building in a quality business park, fitted the bill perfectly.”