Wykeland expands Leeds property portfolio with two new acquisitions

The leading Yorkshire property development and investment company has acquired Central House and 13-14 Park Place in the heart of the central business, legal and professional services district in Leeds.

The buildings back onto each other, with Central House facing St Paul Street, and are within a five-minute walk of Leeds Railway Station, Wellington Place and the city's retail core.

The larger of the two buildings, Central House, features 10,000 sq ft of office space over five storeys, with parking, bicycle storage and shower facilities, while 13-14 Park Place consists of 5,858 sq ft over four storeys, also with parking, bicycle storage and shower facilities.

Each offers a distinct look and feel, with the property in Park Place being a Grade II listed late-Georgian end-terrace and Central House a modern 1980s building.

Wykeland has acquired the properties from asset management and capital investment company Moorgarth Group. Moorgarth previously occupied the first floor of Central House and has now relocated to a suite within Park Place, leaving its previous home as the only vacant unit across the two properties.

Park Place is fully let with tenants including Moorgarth, the UK's leading investor in lower mid-market SMEs, Key Capital Partners, and digital marketing agency, Bidmark. Tenants within Central House include private wealth management firm, MacIntosh James and Partners, funding partner Ultimate Finance, and planning consultants, Peacock and Smith.

The acquisitions add to Wykeland’s portfolio of office buildings in Leeds, joining Elizabeth House, just off Wellington Place, which it purchased in 2024. Elizabeth House is fully let to law firm Clarion Solicitors.

Liam Knaggs, Wykeland’s Head of Business Space, said: “We’re delighted to have acquired these two prime properties. The buildings complement each other, as well as our existing Leeds office asset, Elizabeth House, with Central House being a modern property offering larger units, and Park Place being a picturesque listed property with smaller suites.

“These buildings are excellent additions to our growing portfolio of office spaces. We’re excited to invest in the remaining vacant unit in Central House, giving it a fresh new feel and creating a high-quality space which a business can move straight into.

“The properties already have a very strong yield of nearly 10% and we’re confident we can take that into double figures with the investment in the remaining available unit.”

Hull-based Wykeland has a growing development pipeline and asset base in Yorkshire, the Humber and Lincolnshire and has an exceptional track record of collaborating with blue-chip businesses and public sector organisations to deliver award-winning projects.

The company is known for delivering significant urban regeneration projects including the Fruit Market urban village in Hull and the Flemingate retail and leisure destination in Beverley, as well as owning and operating many of the region’s leading business parks, including the rapidly-expanding Melton West business park, west of Hull.

Wykeland demonstrated its ambitions to acquire prime city centre assets earlier this year by taking full ownership of the Waterside centre in Lincoln, driving forward a £3m investment programme to revitalise the 130,000 sq ft retail and leisure centre.

Waterside is now fully let with major retailers H&M and Next committing to lease renewals and iconic fashion brand Superdry & Co and luxury lifestyle store Rituals among new arrivals following Wykeland’s rejuvenation of the centre.

Wykeland was advised on the acquisition of the Leeds properties by Carrick Real Estate and Andrew Jackson Solicitors, while the former owner was supported by NorthCap, Argo Real Estate and Walker Morris.