Thirskrow Ventures Ltd and The Recruitment Crowd have both taken 1,850 sq. ft. suites in the Compass House building, on five-year leases. Existing tenants include HD Brows, a beauty and cosmetics firm, and property surveyors Malcolm Hollis.
The lettings were completed by Leeds-based property consultancy Sanderson Weatherall alongside joint letting agent, Carter Towler, who acted on behalf of owners Caddick Developments.
Caddick Developments refurbished Rose Wharf and Compass House, both former mills, in 1996. Located on the southern side of the city centre, the riverside properties have retained many of their period features, which are increasingly attractive to occupiers.
Dominic Towler, office agent at Sanderson Weatherall said, “Rose Wharf is a charming, riverside development that provides great office spaces in an ideal city edge location. “It’s fantastic to see the property fully occupied following a significant refurbishment, which demonstrates the pent-up demand for character office space in Leeds.”
Office take-up in Leeds passed the 1m sq. ft. mark in 2017 for the first time, with lower rents and salary costs driving a trend of ‘north-shoring’. The Government Property Unit signed up for 378,000 sq. ft. at Wellington Place in September last September, with Leeds Building Society, fashion brand Burberry and global risk managers Willis Towers Watson also taking office space in the city.
Sarah Friskney, senior development surveyor at Caddick Developments, said: “Leeds has seen both significant development and leasing activity, with the ‘Northern Powerhouse’ attracting international attention and investment, while domestic occupiers are realising the benefits of relocating to core regional cities.”
Caddick Developments, part of the Wetherby-based, family-run property and construction giant Caddick Group, is delivering the £300 SOYO regeneration in Quarry Hill, Leeds’ cultural quarter. Through its build-to-rent arm Moda, Caddick will be delivering 515 high quality rental homes, which will sit alongside co-working space, a hotel, new public realm as well as restaurants and bars.
SOYO and Moda recently agreed a five-year partnership with West Yorkshire Playhouse, pledging financial support during the Playhouse’s £14m revamp. The collaboration will also see workshop space in the Playhouse temporarily transformed into a 350-seat pop-up theatre.