A prime Leeds city centre office space has been acquired by Akbar Property Investments in a six figure deal.
One Park Court was owned by Countrylarge, which disposed of the 3,805 sqft property in what was described as a "swift" sale, conducted by property and construction advisors Fox Lloyd Jones. Countrylarge had owned and managed the property at 42 Park Cross Street since 2019 and had overseen recent refurbishment.
The former owners secured a 10-year lease with flexible workspace operator Wizu, which will guarantee Akbar Property Investment an initial 7% net rental yield. Wizu boasts of a "stylish office space in the heart of Leeds financial district".
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Mohammed Akbar, owner of Akbar Property Investments, said: “One Park Court’s superb location adjacent to Park Square and Wizu’s exciting vision for the property made this a very attractive investment opportunity. I’d like to thank all parties involved for making this such a seamless purchase.”
Antony Rosindale, on behalf of Countrylarge, said: “Having instructed the team at Fox Lloyd Jones earlier in the year, we’ve been hugely impressed with their handling of the sale and the advice and guidance they’ve provided throughout the process.”
Harry Finney, senior surveyor at Fox Lloyd Jones, added: “Given the high demand for office space close to Park Square and the increased need for flexible workspace in Leeds, One Park Court represents a terrific investment opportunity and we are confident it will perform well for Akbar Property Investments.”
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