WATER LANE LS11 5TL THE OPPORTUNITY TO CREATE A rare opportunity to acquire a prime freehold site in the heart of the South Bank of Leeds. A NEW COMMUNITY IN LEEDS The 3.8 acre site currently accommodates a 128,533 sq ft office building and 117 parking spaces but is suitable for significant redevelopment for a variety of uses, subject to planning.

01 OPPORTUNITY SUMMARY

Westbank is allocated for mixed uses in the Leeds Site Allocations Plan and falls within the South A superb opportunity to acquire Bank Leeds Regeneration Framework. The a flagship site in the heart of vendor has engaged with to prepare a Development Brief to establish

Leeds’ South Bank Regeneration WYKEBECK VALLEY ROAD development principles and parameters for future area, comprising a 128,533 redevelopment. sq ft office on a 3.8 acre (1.54

HAREHILLS LANE hectare) site. The South Bank is The site offers the opportunity for extensive STONEY ROCK LN GIPTON APPROACH development of a mixed use scheme, with YORK RD an established commercial and LUPTON AVENUE envisaged uses including office, residential and a residential destination with a INNER RING ROAD A64 YORK RD range of ancillary uses. The Council is supportive LANE OSMONDTHORPE SELBY ROAD

CALVERLEY ST pipeline of further development BECKETT ST of the Development Brief and more details can be NORTH ST NIPPET LN TORRE ROAD BRIDGE ST

and expansion planned. found on page 9. INNER RING ROAD MABGATE

A64 NEW YORK RD A61 REGENT ST BURLEY RD BELLEVUE RD MERRION ST SELBY ROAD

VICAR LN VICAR A64 YORK RD The existing use comprises an occupied three storey BURMANTOFTS ST The site is situated 350 metres IVY STREET THE HEADROW A64 YORK RD

WESTGATE ALBIONST EASTGATE office building with 117 external car parking spaces. PARK LN BRIGGATE SHANNON ST HALTON MOOR AVE KIRKSTALL RD PONTEFRACT LN DUKE ST MARSH LANE south of

LITTLE QUEEN ST QUEEN LITTLE

The office is used as a call centre and benefits

ST PAULS ST GEORGE ST GREEK ST U P

QUEEN ST QUEEN P PARK PLACE RAILWAY ST E

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PARK ROW A with direct access via the south from lifts, suspended ceilings, raised floors and air LISBON ST

QUEBEC ST C WELLBECK RD C

BRIGGATE

YORK PL O LAVENDER WALK

NEW YORK ST M E PARK VIEW conditioning. The freehold occupier will remain in M

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entrance. It also benefits from D ASCOT TERRACE A

CITY T CALLLN I WELLINGTON ST SQUARE O occupation for a short period upon completion, NORTHERN ST WELLINGTON ST N E PARK PARADE OSMONDTHORPE LANE BOAR LN R E PARK ROAD direct access to the M621 and O A AIRE ST D please see page 11 for more details. THE CALLS ELLERBY RD

LONG CLOSE LN national motorway network. DENT ST

The vendor has undertaken significant vendor due CANAL ST WHITEHALL RD CROWN POINT RD WELLINGTON RD

NEVILLE ST SOVEREIGN ST EASY ROAD PONTEFRACT LANE diligence which may be found in the dataroom. The WATERLOO ST HALTON MOOR AVE process for the sale is set out on page 11, with offers

MEADOW LN CROWN POINT RD for the site sought on an unconditional basis. WHITEHALL RD GLOBE RD WATER LN CROSS GREEN

BLACK BULL ST

DAVID ST

PONTEFRACT LANE VICTORIA ROAD

MARSHALL ST

SPRINGWELL RD MANOR RD PONTEFRACT LANE

HOLBECK LN

M621

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M621

M621 Figures from various online resources LEEDS A DIVERSE & ROBUST ECONOMY

OVER FASTEST A WORKFORCE OF RATE OF PRIVATE LARGEST FINANCIAL & BUSINESS SECTOR JOB GROWTH 20100 COMPANIES FTSE SERVICES SECTOR LEEDS CITY REGION IN THE UK OVER THE 3.1M IN LEEDS OUTSIDE LONDON 116,365STUDENTS HAS A POPULATION OF LAST 10 YEARS 1.9M A BUSINESS BASE OF

779,000 GROWTH IN THE FINANCIAL LEEDS CITY REGION OF ALL UK GRADUATES NATIONAL & £69B 125,000 LEEDS POPULATION & BUSINESS21% SERVICES SECTOR ECONOMIC OUTPUT COMPANIES WERE10% EDUCATED IN LEEDS INTERNATIONAL30 BANKS OVER THE NEXT 10 YEARS

03 LEEDS RAILWAY STATION AIRE PARK HS2 At the heart of the transformation is the The old Tetley brewery site (owned by Vastint) HS2 is anticipated to be delivered by 2040. redevelopment of Leeds Station. The Leeds has plans for a hotel, retail, office and Its delivery will reduce travel time to London integrated station will be at the centre c.850 residential units. There will also be a by c.50 minutes. The HS2 line will connect into LEEDS of a new city district. The extension and large green area which will be split into five Leeds Railway Station approximately 0.5 miles redevelopment of the station precinct will sections totalling 2 hectares. to Westbank. create a new park, adding to the existing REGENERATION extensive green space in Leeds.

The City of Leeds has seen significant regeneration over the past decade, with an expansive plan in place for the next 10 years and beyond.

In particular, the regeneration of the South Bank will double the size of by transforming the South Bank. The Regeneration Framework has a vision to create a distinctive global destination for investment, living, learning, creativity and leisure.

The project encompasses 253 hectares of land that lies south of the in Leeds. Equivalent to 350 football pitches in size, the project will provide over 35,000 jobs and more than 8,000 homes, and be one of the largest city centre regeneration initiatives in Europe.

TEMPLE RESIDENTIAL DEVELOPMENTS CEG has planning consent for over 1.1m sq ft of offices, Large scale PRS developments have been delivered on the South Bank, with Leodis 750 homes, retail, leisure and green spaces. The first Square (Dandara, 746 units) and Mustard Wharf (L&G, 250 units) to complete in 2020 building of 38,000 sf is due to start construction, with a further 135,000 sf available by way of pre-let. Further developments are planned with Tower Works (Richardsons, 245 units) having achieved planning and Get Living (756 units) detailing a £180m investment to bring The area encompasses Temple Works, the Grade 1 listed forward a site on Globe Road. former flax mill, which is due to be converted into the main archive for the . The Ironworks site extends to 0.33 hectares located on David Street. The site has full planning consent for 73 units (townhouses and apartments with ground floor mixed use) and is due to start construction imminently.

04 LEEDS REGENERATION TRINITY LISBON INTERNATIONAL WELLINGTON TOWER MUSTARD CITY GRANARY TRAIN BRIDGEWATER SOVEREIGN ASDA AIRE BREWERY TEMPLE SHOPPING POOL WORKS WHARF SQUARE WHARF PLACE SQUARE PARK WHARF STREET PLACE STATION CENTRE HOUSE

TEMPLE ROUND TEMPLE THE LEODIS CITY FABRIK WORKS FOUNDRY WORKS OFFICES IRONWORKS SQUARE WALK

05 Inverness Leeds is the major commercial and financial centre for Yorkshire Aberdeen and the North East of . The city is approximately 35 miles (55 km) north of Sheffield, 40 miles (65 km) north east of AN Manchester and 190 miles (300 Glasgow km) north of London. UNRIVALLED Edinburgh A1

CONNECTIVITY Newcastle

The city has direct access to the M1 and M62 motorways, lying 7 miles (11 km) north of the intersection of the M1 (J42) and M62 (J29) motorways. The M1 is directly accessed from the A1 (M) city centre by the M621 which in turn links with the A1(M).

Hull Leeds Railway Station is the busiest rail station LEEDS M62 outside central London with over 900 trains and Manchester M62 50,000 passengers using it each day. Services to London Kings Cross run every 30 minutes with Sheffield a fastest journey time of 2 hours. There is also a Liverpool regular service to Manchester, Liverpool, York A1 M1 and Newcastle. M6

Leeds Bradford International Airport is situated Birmingham 8 miles (12.5 km) north west of the city centre M40 and only a 20 minute drive away. The airport M5 provides daily flights to major UK and European

KEY: destinations. LONDON Bristol M4

Motorway

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U Situated on a flagship island site in the heart L of Leeds’ South Bank, Westbank is situated IN approximately 350 metres south of Leeds N RK RD E YO R A64 O SE Railway Station. R T S L I S BY NG M T R D T ON OA ST E C R D OA A O TH The site is located on the southern side of D R LV A T S THOR G D NOR Water Lane close to its intersection with ER BECK LN IN GE T L TOR R D ST TE R EY I NIPPE E RO Neville Street, the main arterial route linking R T A A P E BR G D E ST N T

E LAN N S the City Centre to the south which in turn WATER LANE AB IN EG S SURROUNDING OCCUPIERS R M 1 FT provides direct access to junction 4 of the A64 6 E BURL BE N O EW YO A M621 and the national motorway network. 1. Asda L MERRION RK RD EY L ST K RD SEL 2. R Everhseds, ErnstEV & Young R BY D UE MANT

R RO V U A64 YO AD 3. KPMG RD I The surrounding area is an established C B E 4. BT A AV R R

office location with nearby occupiers 5. Addleshaw Goddard L N IVY MOOR including ASDA, KPMG, BT, Addleshaw 6. Handlesbanken N E A64 YORK RD S TE A THE HEADROW N TR TO 7. UKI Partnerships WESTGA EAS A L Goddard, Yorkshire Building Society and L TGATE PA L E A B RK B LN ET H

RI 8. Channel 4 I BACK ROW H SHAN O NON the neighbouring landmark Bridgewater KIRK S ST

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E AT A AR E A P CITY T K CAL SQUARE I WELLIN GT N O AR ON ST P O WELLINGT ON 8 N L E O ST N RT R L BOA R LN L E S O E P H N S ARK M E AD O R ON RN AIRE ST TH E OA E CALLS L CL L D S DT E T D ST R NG LEEDS CITY R HO BY LO ENT STATION T D N RD RP E I V E A D PO R LA EHALL RD ST N IT TO ST N G WH WN CANAL 5 N E N LLE MOOR G O I 4 EI R ST ELLI V C W E H ER ON V T N S2 ST AD L SO OO SY RO RL EA P 7 P 6 ATE ON HA 3 R W D O R T P E T F O IN RA SE LN CT PO D N L RD RO ST AN

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The subject property comprises ACCOMMODATION SCHEDULE a three storey office building SQ.M SQ.FT of steel frame construction with brick and block elevations Ground Floor Office 4,857.5 52,305 underneath tiled and profile Ground Floor Store 30.7 330 metal sheet clad roofing with First Floor Offices 5,726.8 61,642 powder coated aluminium double Second Floor Restaurant 275.1 2,962 glazed windows throughout. Second Floor Office 1,355.1 14,586

The building has been adapted Second Floor Store 18.0 193 to provide bespoke office/call TOTAL 12,263.2 128,533 centre accommodation and is

configured in a regular typical A measured survey has been prepared and is call centre layout. Internally available in the dataroom. the specification includes the following:- BUSINESS RATES We are advised by the Valuation Office • Large floor plates with central glazed Agency that the Rateable Value of the atrium breakout area property is £1,760,000. All interested parties • Full access raised floor should make their own enquiries in this regard. • Suspended ceilings to ground floor • Vaulted ceiling with metallic ceiling tiles to first floor • Air conditioning • Gas fired central heating • UPS and back-up generators • Lift served x2 • Canteen and kitchen facility • Glazed atrium break-out area • 6 x fires escapes • Externally to the front there are 117 marked car parking spaces

08 Indicative Massing: Aerial view looking South.

DEVELOPMENT OPPORTUNITY

Westbank has clear potential for a significant, high quality mixed use urban development with an enviable location and excellent pedestrian connectivity to the centre of Leeds.

The vendor has engaged a full professional team to prepare a Development Brief for the site and engaged with Leeds City Council for feedback on the proposals.

Potential land uses for the site include: • Office • Private for Sale residential • Build to Rent residential • Hotel • Ancillary uses (A1, A2, A3, A4, A5, D1,D2)

The document examines the existing planning context of the area, explores the opportunities and constraints presented by the site, and puts forward outline development proposals and parameters for how the site might be developed for mixed uses.

09 Westbank Leeds

4.1 Indicative Masterplan DEVELOPMENT INDICATIVE MASTERPLAN OPPORTUNITY

Water Lane

Masterplan The masterplan envisages an office and Highways residential led development across four The site is in a highly accessible location, building plots, with ancillary uses in a hotel, surrounded by several key roads that provide retail and F&B, with public realm in the form of routes to the city centre, the wider Leeds an active green heart. district and the wider strategic road network. Taking into account the existing use of the The proposed scheme consists of building site for offices,Westbank the traffic impacts associated Leeds heights between seven and 14 storeys, broadly with the proposed development are not rising from west to east across the site. anticipated to be significant. 4.2 Potential Building Uses Planning Wind The South Bank Leeds Regeneration The wind in Leeds is predominantly from the Back Row Framework Supplementary Planning Document westerly and south-westerlyThe masterplan builds directions. on the aspirations Design of the South Bank Leeds SPD by offering a mixed use (SPD) was adopted in 2018 and will be a key of the masterplanneighbourhood to account with places for to these live, work wind and visit. N

consideration for any future development of effects will beOffice key usesto achieving are situated to a the comfortable North of the site along Water Lane the site. The SPD covers issues such as a green and safe environment,Water Lane with within good connectivityand around to Leeds the train station and the city centre. network of access, transport issues, flood proposed development. It is anticipated that resilience and land use. the developmentResidential could and be hotel beneficial uses are located to towind the South of 11169-CDL-A-DOC-001_P5 the site along Back Row and the future Arbour green July 2020 considerationsurban within link to the Temple vicinity Works. of the site. Additionally, the Site Allocations Plan (SAP) was adopted in July 2019 and forms part Office of the Leeds Development Plan. This site Team is allocated within the SAP as a mixed use Office allocation (Site MX2-32), with nominal capacity of 288 residential units / 20,790 sqm of office accommodation.

The site falls outside all designated Conservation Areas, and does not contain any Historic England listed buildings. Whilst the site Flexible Active is located outside of the identified ‘Preferred Areas’ for tall Buildings, the presence of Hotel / Residential Bridgewater Place as an existing tall building is recognised and the site is far removed from any “sensitive zones” or “key views”.

Residential Residential

Back Row POTENTIAL BUILDING USES 10

11169-CDL-A-DOC-001_P5 July 2020 IMAGES SHOW IMMEDIATE AREA

LOCAL AREA

10 PROCESS

Sale Process The lease will be outside the 1954 Act and will Our client is seeking an unconditional sale of not contain any dilapidations provisions. There their freehold interest in the site (title number is no option for renewal. The lease terms are WYK411826), by way of private treaty. available in the dataroom.

Due diligence Inspections An extensive due diligence programme has Inspections can be made only via the retained been undertaken by the vendor, with surveys agents. Please contact Kate Lightfoot of CBRE available for reliance by the purchaser, to arrange a viewing. including: Dataroom • Ground Survey Dataroom access is available upon request • Building Survey from the vendor’s agents. The dataroom • Engineering Surveys includes: • Asbestos Survey • Flood Risk • The due diligence surveys noted above; • Drainage Assessment • Maps, plans and site information; • Topographical Survey • The proposed leaseback to the vendor; • Utilities Surveys • CPSEs and a report on title; and • Wind Surveys • The draft sale contract. • Measured Survey • Environmental Assessment Upon putting forward an offer it will be • Electrical Survey expected that any interested party has • Lift Survey reviewed and reflected the contents of the dataroom in their offer. The vendor has prepared a Development Brief, including consultation with and feedback from Parties that have registered their interest in Leeds City Council. Westbank will be notified by way of Process Letter when bids are being called for the sale. Leaseback The vendor will remain in occupation of the Any and all enquiries are to be made of the st site until 31 December 2021, with a tenant vendor’s agents who are jointly acting as option to break with a 3 month notice period. exclusive advisors to the vendor.

No rent will be payable by the vendor, but they will cover business rates, utilities, essential maintenance, security and insurance during occupation.

12 ALL ENQUIRIES WATER LANE LEEDS LS11 5TL

Contact:

[email protected] [email protected] T: 07799 077 366 T: 07738 501 673

[email protected] [email protected] T: 07917 168 676 T: 07834 782 591

[email protected] T: 07776 546 893

westbankleeds.co.uk

MISREPRESENTATION ACT: CBRE and JLL for themselves and for the vendors or lessors of this property for whom they act, give notice that: (i) these particulars are a general outline only, for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract; (ii) CBRE and JLL cannot guarantee the accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy; (iii) no employee of CBRE and JLL has any authority to make or give any representation or warranty or enter into any contract whatever in relation to this property; (iv) rents quoted in these particulars may be subject to VAT in addition; and (v) CBRE and JLL will not be liable, in negligence or otherwise, for any loss arising from the use of these particulars. Designed and produced by DS.Emotion July 2020.

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