Strativ inks 10-year lease for Leeds office
Recruitment agency Strativ Group has taken a 6,110 sq ft office space on a 10-year lease at Sovereign House, on South Parade in Leeds.
The company will pay an annual rent of £158,860 for the recently refurbished space. The grade II listed building is owned by investor Hillview Real Estate, which has completed works on a new reception, bike storage and shower facilities, along with sustainable features such as LED lighting.
A further 14,445 sq ft currently remains available to let at the five-storey building, at a starting quoting rent of £26.50 per sq ft.
Recruitment agency Strativ Group has taken a 6,110 sq ft office space on a 10-year lease at Sovereign House, on South Parade in Leeds.
The company will pay an annual rent of £158,860 for the recently refurbished space. The grade II listed building is owned by investor Hillview Real Estate, which has completed works on a new reception, bike storage and shower facilities, along with sustainable features such as LED lighting.
A further 14,445 sq ft currently remains available to let at the five-storey building, at a starting quoting rent of £26.50 per sq ft.
Dom Ketteringham, asset manager at Hillview, said: “This lease agreement reflects the broad-based pick-up in occupational activity we are seeing across the portfolio, and endorses our strategy of refurbishing well-located offices in regional cities to offer tenants a high-spec work environment with access to a wide range of amenities.”
Hillview was advised jointly by Savills and WSB Property.
Patrick Carter, director on the office agency team at Savills Leeds, said: “Following the pandemic, we continue to see a flight to quality from businesses looking for the best possible space to both attract and retain talent as people continue to head back to the workplace. For this reason, we are already seeing significant interest in the remaining available space.”
The move comes as regional office take-up recovers from Covid low. The most recent research from JLL has shown that Leeds was the only city in 2021 to match its 10-year occupancy average, at 624,000 sq ft.
The largest deal in Leeds last year saw law firm DLA Piper sign up for 83,015 sq ft of space at City Square House, while life sciences company Labcorp moved into a 68,345 sq ft office at Drapers Yard.
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Image courtesy of Savills
