An office block which has housed a regional daily for the past four years has been sold to a Swiss bank for more than £34m.
The Yorkshire Post and its sister titles moved to No 1 Leeds, on Whitehall Road in the city, in 2012.
Now the Johnston Press-owned paper has reported the building’s sale by German-backed property firm Triuva to Credit Suisse for £34.17m.
The Yorkshire Post, along with a number of other JP titles, is the building’s largest tenant, occupying 40,000 sq ft of office space.
After it was first built at the height of the 2007-8 financial crisis, No 1 Leeds remained empty for a number of years.
Yorkshire Post Newspapers, energy company GDF Suez and advertising agency Gratterpalm were among the first tenants to agree leases, in 2012.
The YP had previously been housed in a “brutalist” concrete block on Wellington Street once hailed as a prime example of modern architecture but which has since been demolished
As well as No 1 Leeds, Credit Suisse also owns two other office blocks in the city – Princes Exchange, near Leeds City Station, and No.1 Park Lane.
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Is this really a story? All it amounts to is “Our landlords have sold out”.
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I agree Digger. It’s not as though Johnston Press owned the building and are cashing in an asset.
The story so far is YP have new landlords. Questions to be answered are: what’s going to happen to the building and its tenants? Are YP staying or are they moving and if so where to?
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The Northern Ireland Newsroom of the Future is really biting now. It’s an insult to journalism and to the diminishing number of readers at £1.50 a time. The rubbish publication are light years away from the excellent newspapers the company used to produce before the takeover by clueless, greedy JP. I hope someone with acumen and a sense of community buys them and JP will be a distant nightmare.
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I see Ashley has blamed Brexit for a ‘triple hit’ on JP shares. Tomorrow he’ll be blaming the Telly Tubbies and the next day he’ll cite Garfield the Cat.
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