CBRE Secures Leeds' Largest Letting in Five Years

Leeds, 2 December 2009 – CB Richard Ellis, acting on behalf of GE Capital Real Estate, has leased 57,000sq ft to Yorkshire Water Limited at Livingstone House, Clarence Dock. Ryden acted for the occupier Yorkshire Water in a deal which represents the largest letting in the city centre since 2005, terms of the deal are undisclosed.

Yorkshire Water has taken a 10 year lease on the part ground and floors 2-5 inclusive at the 71,955sq ft Grade A, BREEAM rated Livingstone House. From February 2010 the new offices will serve as the base for Yorkshire Water's newly created Asset Delivery Team, consisting of 550 Yorkshire Water and contract partner employees.

The decision to establish the team in this new city centre location was made as the company begins to focus on delivering a programme of investment which will see it spend around £1.9 billion in the region between 2010 and 2015.

Charlie Haysom, head of Yorkshire Water's Asset Delivery Team, says; "Yorkshire Water is a major investor in the region and this move is another example of how the company continues to benefit local economies."

"Our new location will enable us to strengthen relationships with our working partners by bringing them all together under one roof alongside our own colleagues. This collaborative approach will help us to focus more than ever on delivering the challenging programme of investment we have planned over the next five years, to ensure that we continue to offer our customers the very best level of service at the lowest possible price."

Livingstone House forms part of a total 100,000sq ft of Grade A office accommodation at the Clarence Dock waterfront site which is Leeds’ largest mixed use development. Completed in 2008, the £250M scheme has transformed the city’s waterfront with fashionable cafes, bars, shops, restaurants, casino, 1100 apartments and a hotel creating a vibrant urban destination.
The letting to Yorkshire Water continues a successful year for the office agency team at CB Richard Ellis who set a new headline rent for the city when they secured a letting to Zolfo Cooper at Toronto Square in September 2009. The team has now completed 2 of the 3 largest city centre transactions this year. Director of Office Agency for CB Richard Ellis in Leeds, Jonathan Shires, says; “This major deal is excellent news for the City of Leeds and shows that confidence is improving as we move towards 2010.”
David Marshall a Partner in the Ryden Leeds office stated, “Ryden is delighted to have acted on behalf of Yorkshire Water in this strategic acquisition which is the largest office letting in Yorkshire in 2009. Livingstone House was shortlisted early in our property search as being a building which suited our clients business and locational criteria.” The deal is a further boost to Ryden’s agency team which was recently strengthened by the appointment of Steven Jones as a surveyor.

Philip Jacobs, Asset Manager at GE Capital Real Estate who own Livingstone House, comments: "We are delighted that Yorkshire Water has chosen Livingstone House and Clarence Dock as the base for their new innovative asset delivery vision, and to have worked with their team to offer the building".

Previously, the largest letting in Leeds city centre was undertaken in 2005 when the Government Office of Yorkshire signed up for 91,000 sq ft at Lateral.
CB Richard Ellis is joint office agent on Clarence Dock with WSB.