May 15, 2014

Hat-trick of lettings for Leeds Property Investment firm

One of Leeds’ leading property investment companies has completed a hat-trick of lettings in Park Square, at the heart of the city’s central business district, to legal sector organisations.

Avtar Properties has let 25 Park Square West to solicitors Zermansky & Partners, 40 Park Square North to law firm BC Legal, and 41 Park Square North to barristers’ practice St Philips Chambers.

The last of these transactions is especially significant, as it is subject to a substantial refurbishment of the 7,500 sq ft premises, which is already under way and will be completed in June. The upgrade is providing prime Grade A office accommodation, to a bespoke design, for the building’s new purpose.

Zermansky & Partners, previously based in Leeds’ Butts Court, advises business and individuals on a range of areas, including commercial property, employment and personal injury. BC Legal is a Southend-on-Sea-based boutique firm, specialising in defendant occupational disease litigation. St Philips Chambers is one of the country’s leading multi-disciplinary sets, boasting 175 barristers overall, which already has teams in Birmingham and London.

In all three transactions, Avtar Properties was advised on the legal aspects by Simon Mydlowski, a commercial property partner at Yorkshire law firm Gordons, and the letting negotiations with the tenants by Jonathan Phillips, of Leeds-based property consultants Dove Haigh Phillips.

Sukhvir Thethi, partner, Avtar Properties, said: “We’d worked with Simon before and been very impressed with the service he provided, as he’d demonstrated first-class legal expertise and the ability to move very quickly when that was needed. Those qualities were again evident over these three lettings.”

Avtar Properties would certainly recommend Mr Mydlowski and would not hesitate to use him again, Mr Thethi added.

Mr Phillips said: “These lettings confirm the sustained recovery in the Leeds office market but also demonstrate that Park Square is one of the prime business locations in the city centre. Avtar Properties were also able to adapt to different requirements from the respective tenants, in order to meet all of their own individual needs.”

The three lettings are significant for Avtar Properties, as they help achieve its asset management and strategic objectives for its substantial commercial property investment and development portfolio in Leeds city centre. This was acquired just under two years ago and the company intends to continue adding prime assets, building on its residential portfolio, which has existed for about four decades.