24/07/2012

Law firm Gordons advises British Land on £13m sale of Leeds landmark mixed use complex the Electric Press

Yorkshire law firm Gordons has advised leading property investor British Land on the £13m sale of Leeds landmark mixed use complex The Electric Press.

British Land has sold the property to DTZ Investment Management for one of its retained funds.

Located in Great George Street, next to Millennium Square, in the heart of Leeds Civic Quarter, the three-storey Electric Press contains the 350-seat Carriageworks Theatre and conference facility. It also boasts bars and restaurants, including All Bar One and Casa Mia, and 2,000 sq m of offices leased to Leeds Metropolitan University. There will be no change of use as a result of the sale.

A Gordons team led by commercial property solicitor Joanne Fearnley advised British Land, which has owned the property since 2004, on property, litigation and employment aspects of the deal.

Built originally around 1840, about half of the complex – which became The Electric Press following a four-year renovation programme completed in 2004 – is Grade II listed. It is one of only a handful of buildings in Leeds city centre still fronted by Victorian arches.

Joanne Fearnley said: “It was a pleasure to advise British Land, which manages, finances and develops some of the finest buildings in the country, and we’re delighted the client is so happy with our work.”