EDWARDS ACQUIRES PRIME GRADE A OFFICE ASSET IN LEEDS’ THORPE PARK

Manchester, UK - Independent property consultancy Edwards has successfully acquired Centrum 4600, a high-quality Grade A office investment located in Thorpe Park, Leeds, on behalf of a private investor.

The prominent 21,433 sq ft four-storey office building, which includes ground-floor retail and leisure space, was acquired for £5.85 million, reflecting a net initial yield of 9.18%.

Centrally positioned within the well-established Thorpe Park business community, the property is adjacent to The Springs retail and leisure destination. The building serves as the UK headquarters of Dr. Oetker (UK) Limited, who committed to a new 15-year lease in 2022 following a comprehensive refurbishment, including a full mechanical and electrical upgrade.

The ground floor also houses 4,965 sq ft of retail and leisure space, let to Greggs and Francos, providing a robust and diversified income profile. The property benefits from a weighted average unexpired lease term (WAULT) of over 12 years, ensuring strong income security.

Commenting on the acquisition, Oliver Rowe, Director at Edwards, said:

"This was an outstanding opportunity for our client to acquire a well-located, high-performing, and future-proofed asset. The combination of long lease commitments, a strong tenant covenant mix, and recent capital investment made Centrum 4600 an ideal fit. Located in one of Leeds' most strategic and accessible business hubs, the asset is well-positioned for long-term performance."

This acquisition underscores Edwards' strategic focus on securing prime regional investment opportunities that offer long-term income stability and value-add potential.

Newmark acted on behalf of the vendor, Quasar Real Estate.