Knights, one of the UK’s fastest growing legal and professional services businesses, has announced it is taking 22,000 sq ft of super prime Grade A office space at the Majestic in Leeds.
Knights, who recently acquired leading Leeds law firm Shulmans, will be joining Channel 4 in the Majestic, which has been comprehensively refurbished by the Rushbond Group.
The deal, which is one of the largest office deals in the city during the past 12 months, was brokered by the Leeds office of global property consultancy Knight Frank. Knights is taking a 15-year lease.
David Beech, CEO of Knights, commented: “Today’s announcement reflects Knights’ ongoing commitment to provide a high-quality and collaborative working environment for colleagues and will support our expansion in the region through recruitment as we continue to scale our presence across the UK.”
The magnificent redevelopment of the six-storey Majestic, formerly both a cinema and a nightclub, will be completed next month with Channel 4 taking three floors.
Eamon Fox, partner and head of office agency at Knight Frank in Leeds, who advised Knights, commented: “This is a very significant letting for Leeds and a resounding endorsement both of the quality and design of the Majestic building and of the strength of the legal sector in the city.
“Rushbond have transformed this superbly located building into an exciting workplace at the forefront of the Leeds market. The lettings announced so far are a resounding endorsement of what has already been achieved here.
“I am confident that this flight to quality will lead to further significant office lettings at Majestic in the near future. With Channel 4 and Knights taking a combined total of five floors, there is just 17,000 sq ft still available and interest in that is strong, despite these challenging times,” he added.
Richard Baker from Rushbond commented: “We are delighted to welcome a flourishing firm like Knights to the Majestic. Our redevelopment has been a labour of love and we have been rewarded by attracting occupiers of the highest calibre. The Majestic has been designed to meet the needs of the modern business and its future will be defined by those who will occupy it.
“It is very exciting to announce this significant office deal, especially in this difficult climate. As the building nears practical completion, it is time to look forward to a brighter future for the city of Leeds. Creating much-needed Grade A office space in the heart of the city is our way of supporting the city’s economy.”
Eamon Fox added: “New technologies, disruptive market entrants and shifting client demands are powerful forces are transforming what lawyers do and how they operate. As a result, the law firm of the future is becoming more innovative, nimble, lean and tech-focused. This, in turn, will transform the property requirements of the legal services sector. A future-proof, fit-for-purpose environment will be needed, which is exactly what the Majestic is.”
Meanwhile the acquisition of Shulmans provides Knights with a platform for growth in one of the largest regional markets for legal services in the UK; the Yorkshire market is estimated at £437m.
The Leeds office of property consultancy JLL advised Rushbond on this deal.