Fladgate advises Westgate Management Ltd on £10m office building sale

Our team: Julian Scharfer, Richard Kaufman

Fladgate LLP has advised Westgate Management Ltd (on behalf of a Swiss-based private trust) on the sale of a 47,000 sq ft office building in Leeds for over £10 million.

Kings Court, a six-storey office building at 12 King Street in the centre of Leeds, has been acquired by an overseas private investor. The sale price represents an 8% net initial yield.

The high profile property is let to solicitors Walker Morris, with an annual rent of £891,000 pa. Walker Morris recently indicated a further commitment to the building by signing a reversionary lease to extend their occupation until December 2019.

Fladgate real estate partners Richard Kaufman and Julian Scharfer advised Westgate.

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