£3.5m North Leeds office development refurbishment the ‘largest in recent years’

Hillview Real Estate, the UK regional office investor, has completed the refurbishment of Lawnswood House in Leeds, the ‘largest speculative office refurbishment in the north Leeds market in recent years’.

The refurbished property provides 36,394 sq ft of grade A office space with units from 4,351 sq ft at a quoting rent of £22 per sq ft. In line with all of Hillview’s projects, the £3.5m refurbishment was ESG-focused to ensure environmental, local community and occupational considerations were addressed.

The property has achieved an EPC rating of ‘B’ and benefits from a range of sustainability features, including an efficient variable refrigerant flow (VRF) heating and cooling system and electric car charging points.

Working with local contractors, recycled materials were utilised where possible and “careful attention” was given to provide extensive end-of-journey facilities to encourage sustainable travel options.

Hillview acquired Lawnswood Business Park in December 2018 for Hillview Partners Property Fund II. The business park is strategically located in North Leeds and provides around 150,000 sq ft of high-quality office accommodation.

During its ownership period Hillview has implemented extensive asset management initiatives to enhance the occupational amenities and sustainability features across the estate, which has resulted in an occupancy level of 96 per cent, excluding Lawnswood House, with tenants including Brenntag, Equinti, Handelsbanken and Aramak and more.

Dom Ketteringham, asset manager at Hillview Real Estate, commented: “With our design team we have upgraded the dated former offices of HMRC to be a property that meets the needs of modern office occupiers by introducing extensive natural light and creating a flexible office layout so a range of occupiers can benefit from its strategic location within Lawnswood Business Park.

“The refurbishment ensures that Lawnswood House provides contemporary workspace in an environmentally conscious manner, which is a strategy our team is rolling out across our regional office portfolio”.

By Matthew Neville – Senior Correspondent, Bdaily