News: Powell Williams advises on £35.6m landmark office acquisition for CCLA
The Local Authorities' Property Fund, managed by CCLA, one of
the UK's largest charity fund managers, has purchased One Park Row
in Leeds for £35.6m from Evans Property Group.
Powell Williams provided the technical due diligence for the 79,124
sq ft acquisition on behalf of CCLA, one of the city's largest
deals this year.
Location, location, location
One of the highest profile office buildings in Leeds, the
Grade A One Park Row occupies a prime location overlooking City
Square and is within 100m of Leeds Rail station. The nine-storey
building is let entirely to international law firm Pinsent Mansons
LLP. It has a large roof terrace and two floors of basement car
parking with 70 spaces.
As part of our technical due diligence,
Powell Williams managed the input of all other
consultants involved. The instruction required our expert and
specialist knowledge of the commercial office sector. Reports were
delivered within a very robust time frame, allowing the client to
assess the existing condition of the property, and the likely
extent of future foreseeable works, and enabled the purchase
contract to be exchanged expediently.
Roy Halliday, Property Fund Manager at CCLA
"As an investor for charities, we seek assets which provide
minimal risk and which offer opportunity for an excellent return.
Similarly in our choice of consultants we look for a safe pair of
hands with the experience to ensure we can purchase the building
with confidence. We found, in Powell Williams, a wealth of
expertise and a level of excellence which impressed. Their speed of
response, attention to detail and commercial approach of their
advice was instrumental in the swift culmination of this
For further information regarding this instruction, or the work
we undertake in the North East, contact Paul