Lowell expands at Leeds Valley Park

One of the largest European credit management companies, GFKL Lowell Group, has expanded at XLB and Harbert Management Corporation (Europe) LLC’s Leeds Valley Park development with an additional 45,647 sq ft of offices within the Darwin Building.

Lowell already occupies the Ellington House Building at Leeds Valley Park and is seeking to recruit an additional 100 team members as part of the continued company growth.

CBRE & Savills acted for Leeds Valley Park and Lowell was unrepresented.

XLB and Harbert Management Corporation (Europe) LLC acquired three buildings at Leeds Valley Park as part of a larger UK portfolio from Goodman in 2014, which also includes assets in Oxford, Hatfield, Leicester & Glasgow.

GFKL Lowell has agreed terms for the ground, first and second floors within the 60,000 sq ft, high-specification Darwin Building, which is constructed to the highest European standards to deliver modern, energy efficient business space and incorporates a large full-height glass atrium providing impressive façades.

The expansion follows on from a period of sustained growth for GFKL Lowell. In October 2015 it launched Lowell Solicitors Ltd (LSL), an Alternative Business Structure. The additional office space will accommodate LSL and provide room for growth.

Last year, the Lowell Group was acquired by Permira Funds and merged with German market leaders GFKL. This union created one of the largest credit management companies in Europe. The Group’s experience, expertise and core strengths in data analytics and operational efficiency underpin its vision to be the most reputable and trusted partner in the European credit management sector.

Leeds Valley Park is an award-winning development widely recognised as one of the most significant business parks in the region. The Lowell deal follows on the back of a letting to Smoothwall (IT) Ltd who leased 10,265 sq ft in Avalon in 2015.

Only one suite (4,880 sq ft) now remains at Leeds Valley Park with strong tenant interest from existing and new occupiers.

Leeds Valley Park is ideally located for excellent connections to nearby Leeds City Centre and the wider area, situated at the intersection of the M1 and M621 motorways and approximately three miles from Junction 29 of the M62 motorway.

Jonathan Shires, Senior Director at CBRE’s Leeds office, said;

“Darwin offers excellent quality offices and the business park’s strategic location ticks many boxes for Lowell in terms of great working space and excellent connectivity to the region’s transport network and Leeds City Centre. The latest deal confirms the increasing high demand for good quality office accommodation within the Leeds City Region.”

William Poole, Partner at XLB commented;

“We are delighted Lowell has chosen to expand at Leeds Valley Park, rather than elsewhere in the UK.  The deal shows the benefit of collaboration and working with existing occupiers to facilitate their growth and business requirements”

Mike Lynn-Jones, UK Human Resources Director, commented:

“Our expansion into Darwin will provide us with an excellent space in which Lowell, and Lowell Solicitors can further flourish and grow. It complements our offices at Ellington House and provides us with additional high quality offices in which we can continue to attract high caliber candidates to join our existing talented team”