In­vest­ment group makes move into York­shire with £9.58m deal

Yorkshire Post - Business - - COMMERCIAL PROPERTY -

LJ REAL Estate has ex­panded its port­fo­lio into York­shire with the ac­qui­si­tion of its first prop­erty in cen­tral Leeds for £9.58m.

The fam­ily-backed in­vest­ment group has bought 34 Boar Lane, for­merly CGU House, lo­cated op­po­site Trin­ity Leeds shop­ping cen­tre, from Re­gional REIT, man­aged by Lon­don & Scot­tish In­vest­ments. LJ Real Estate plans to re­fur­bish the 51,000 sq ft of­fice and re­tail build­ing to cre­ate a “col­lab­o­ra­tive en­vi­ron­ment that of­fers its res­i­dent busi­nesses top qual­ity and char­ac­ter­ful, de­sign­led of­fice space with top-of-the-range tech­nol­ogy as well an ex­cit­ing range of restau­rants and shops”.

Di­rec­tors Sam Law­son John­ston and Ge­orge Haddo – the driv­ing forces be­hind LJ Real Estate – are leading the de­vel­op­ment. Their port­fo­lio in­cludes a clus­ter of five his­toric build­ings that make up The Al­bert Estate and nearby Canada House in Manch­ester.

Sam Law­son John­ston said: “We are ex­cited to trans­form this build­ing into a con­tem­po­rary workspace with top tech­nol­ogy, char­ac­ter and a great cul­ture, which will be fit for the many dy­namic busi­nesses bas­ing them­selves in Leeds.”

LJ Real Estate in­vests its own funds and that of en­trepreneurs and wealthy fam­i­lies in real estate in key UK cities. It fo­cuses on well-lo­cated com­mer­cial prop­er­ties and man­ages a port­fo­lio of 215,000 sq ft in the North West.

Ge­orge Haddo added: “Peo­ple and or­gan­i­sa­tions thrive as part of a com­mu­nity – the op­por­tu­nity to build a sense of place is at the cen­tre of what we do when we buy and re­fur­bish build­ings.

“Ren­o­vat­ing his­toric prop­er­ties also means that the city’s her­itage lives on for future gen­er­a­tions, and busi­nesses are part of a much longer and more en­gag­ing story.”

Ea­mon Fox, head of of­fice agency at Knight Frank Leeds, who ad­vised LJ Real Estate, said: “We have been col­lab­o­rat­ing with Ge­orge and Sam for over three years to find the cor­rect prop­erty in Leeds to pur­chase.

“We have a great level of am­bi­tion for the as­set as we look to trans­form this well-po­si­tioned build­ing into an ex­cit­ing work­place at the fore­front of the Leeds mar­ket.”

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