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Shipley centre offices acquired for £900k

A 10,000 sq ft landmark office building in Shipley town centre has bought for nearly £900k by local company Red Embedded.

The Otley Road building, known as The Wave, was bought by the firm which develops high volume digital consumer products such as set top box, desktop and handheld videophones.

The company will be relocating to its new offices in January from the nearby Waterfront office scheme which was recently sold by GMI Developments for £6m to an overseas investor.

The sale was completed by Fox Lloyd Jones acting as LPA Receiver. To facilitate the sale, the Receiver had to surrender an existing lease to deliver vacant possession.

Paul Fox of Fox Lloyd Jones believes the sale communicates a further positive message about improving owner occupier appetite to invest back into property and also for the market in Shipley generally.

“Shipley and neighbouring Saltaire continue to succeed as a centre for hi-tech industries with market-leading companies such as Pace, Radio Design and Red Embedded established and trading there,” he said.

This was posted in Bdaily's Members' News section by Clare Burnett .