The Leeds office of global property consultancy Knight Frank has advised on the acquisition of a further 10,000 sq ft of quality space to Regus at Pinnacle Leeds, the city centre’s tallest office tower.
Regus, the leading UK serviced office provider, is taking floors 15 and 16 on a 10-year lease. The rent is in the region of £18.00 per sq ft. Regus already occupies 10,000 sq ft on floors 17 and 18.
Eamon Fox, head of Knight Frank’s office agency team in Leeds, who acted for Regus, commented: “We are very pleased to have concluded this acquisition at one of the city’s most popular office buildings. Prominently located at the heart of Leeds city centre on Albion Street, The Pinnacle is a landmark building, which is perfectly located between the city’s historic professional core and the retail quarter.
“The building has undergone a comprehensive refurbishment and offers high quality, flexible and open plan office space boasting breath-taking panoramic views over Leeds city centre. We are delighted to have acted for a well-known name like Regus in taking more space at Pinnacle Leeds in one of the most significant deals in the Albion Street corridor this year.”
Brockton Capital, advised by Knight Frank, acquired The Pinnacle, a flagship 145,000 sq ft, mixed-use asset, for around £65.0m in April this year.
Speaking on behalf of Regus, Matthew Aubrey said: “Our decision was simple to lease more space here and reflects our strong endorsement of the qualities of The Pinnacle. The building is home to a dynamic mix of businesses and is recognised as the prime location within Leeds city centre, providing ideal working space, value and excellent amenities. We are fully occupied at present, so this additional 10,000 sq ft has come along at the right time”.
James Spencer, Principal at Brockton Capital LLP, said: “Regus’s decision to take more space in The Pinnacle is testament to the quality of the offering and we are delighted to see the Regus business thriving and expanding within the building. This impressive 15-storey office tower is surrounded by some of the city’s finest bars, restaurants and high street retail stores, making it ideally placed to attract and retain the best talent.”
Among other Pinnacle office occupiers are Barnett Waddingham LLP, Schlumberger, Steer Davis Gleave and Blue Fin Insurance.
Retail and leisure tenants in The Pinnacle Podium include Joy, Superdrug, Pret a Manger, Greggs, Roxy Lanes, Tesco Express and MOD Pizza.