M7 acquires Leeds’ Bridgewater Place and plans IPSX listing

M7 has acquired Bridgewater Place in Leeds, the tallest building in Yorkshire, for £84.5m. The 234,000 sq ft office building is 93% let to occupiers including EY and law firms DWF and Eversheds. Around 18,000 sq ft of space on the ninth floor is available to let. The annual headline rent amounts to £5.9m. Bridgewater Place includes 200 homes, but these are separately owned and are not part of the transaction. M7 executive chairman Richard Croft said: “Like the Mailbox in Birmingham, we believe Bridgewater Place offers a compelling investment opportunity to investors and we are currently preparing for a potential listing of this prime office property the on the IPSX stock exchange.” The deal comes ahead of a potential initial public offering of the company on the IPSX stock exchange in early 2021. M7 is expected to be the second company to admit its shares to trading on IPSX. To send feedback, e-mail lucy.alderson@egi.co.uk or tweet @LucyAJourno or @estatesgazette