The team at Lambert Smith Hampton’s (LSH) Leeds office has completed the sale of Granary Wharf House to educational charity Lhasa Ltd. The 20,805 sq ft. property in Leeds City Centre will function as the organisation’s new HQ.
The three-storey purpose built offices were formerly home to the Medical Protection Society (MPS), which relocated to Victoria Place earlier this year to allow the continued expansion of its business. The property will now be transformed into the Lhasa base, where it enjoys a prime position in the heart of the Granary Wharf Development.
Adam Varley, Head of Office Agency at LSH’s Leeds office said: “We had a great deal of interest in Granary Wharf House, which is understandable given the scarcity of freehold, self contained buildings in the city centre. The property also has the advantage of designated parking spaces, which was a major appeal and benefit to the occupier.”
David Watson of Lhasa Ltd said: “We’re really pleased with our new home, and are happy that we were able to make such a smooth transition to the new space. It’s a great building and will allow us to grow and evolve by providing us with the necessary facilities to further our cause.”
The building’s position on the South Bank of the City, which is enjoying considerable investment, was a major factor in Lhasa’s decision to relocate. Leeds South Bank is undergoing significant redevelopment, with one notable example being the enhancement of the new Southern entrance to Leeds Railway Station, which will provide direct access to and from Granary Wharf. The completed project is expected to further promote Leeds’ viability as a centre for business.
Adam added: “Lhasa’s acquisition of Granary Wharf House is a great example of how confidence is returning to the office market, both in Leeds and throughout the wider Yorkshire area. However, we have a challenge to maintain this momentum, as there is a considerable shortage of Grade A office space.”
Edward Harrowsmith at Knight Frank represented Lhasa Ltd in the acquisition of Granary Wharf House.Allsop jointly acted on the Sale of Granary Wharf House with LSH on behalf of MPS.
Lhasa Limited is a not-for-profit organisation and educational charity. It facilitates collaborative data sharing projects in pharmaceutical, cosmetics and chemistry-related industries.