Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting to read:%0A%0A {0} %0A%0A {1}

Regional REIT Buys Portfolio of Assets in Yorkshire for £26.5m


London, 7 July 2022 – Regional REIT, the regional office specialist, has completed the acquisition of a portfolio of three offices in Yorkshire from clients of Commercial Estates Group (CEG), for a combined purchase price of £26.5m - representing a blended net initial yield of approximately 8.0%.


Cushman & Wakefield advised Regional REIT’s Asset Manager, London and Scottish Property Investment Management (LSPIM), throughout the acquisition.

The assets are One Northbank in Sheffield, 84 Albion Street in Leeds city centre, and Building 1175 at Thorpe Park, Leeds. Collectively, the three buildings offer 124,000 sq ft of high-quality, well-let office accommodation in established office locations. The portfolio is 98% let and generates an income in the region of £2.3m per annum.

Richard Brooke, Partner in Cushman & Wakefield’s Capital Markets team, said: “We are delighted to have advised LSPIM on this off-market acquisition. The Yorkshire office market remains undersupplied in quality office accommodation. With all these buildings benefitting from recent refurbishments, they offer attractive spaces for occupiers in their respective markets, and we are confident that they will perform well for Regional REIT.”

Stephen Inglis, CEO of LSPIM, the Asset Manager of Regional REIT, commented: “The three acquired assets announced today are high-quality and well-located buildings in core cities, purchased at a strong accretive blended yield of 8.0%. All are leased to high calibre tenants in a growth region of the UK where we are keen to increase the portfolio's exposure. The assets also provide us with compelling opportunities to drive further value through asset management activity, whilst delivering attractive income streams.”

Nick Barker, Acquisitions Manager at CEG, said: “Having successfully secured a number of high-profile tenants across the three assets, we were pleased to dispose of them to Regional REIT ahead of our business plan. The receipts will be invested into ongoing CapEx to improve our wider office holdings across the country, as we continue to create exceptional workspaces for our customers.”


Richard Coleman, Head of Communications EMEA
Richard Coleman

Head of EMEA Communications • London

What's new

Cushman & Wakefield Welcomes Senior Hire To UK Capital Markets Team

Global real estate services firm, Cushman & Wakefield, has appointed James Yates as a Partner to its UK Capital Markets team.


Tom Nuttall
Cushman & Wakefield Announces Tom Nuttall As Head of UK Valuation & Advisory

Nuttall, who joined the firm as a graduate, will succeed Karen Clements who is retiring at the end of the year.


MyCity thumbnail card
MyCity 2023

This autumn, we’re excited to unpack our vision for the future of six UK cities: London, Birmingham, Bristol, Manchester, Leeds and Edinburgh. We consider how well placed each is to manage the challenges and opportunities ahead.


London Big Ben Westminster Bridge sunset

UK MarketBeat

Cushman & Wakefield MarketBeat reports analyse quarterly UK commercial property activity across office, retail and industrial real estate sectors as well as the Central London residential market. Find data on supply, demand and pricing trends at the market and submarket levels.
Edward Bavister • 28/11/2023
Big Ben
Insights • Economy

Unpacking The 2023 Autumn Statement

We unpack the 2023 Autumn Statement and what it means for real estate & infrastructure, housing, business rates, consumers, the environment, devolution & investment zones.
Daryl Perry • 23/11/2023
Elderly Care

Elderly Care Real Estate Scorecard

Discover the latest insights and trends in the elderly care real estate market with the comprehensive Elderly Care Scorecard. From investment volumes to occupancy levels and cost pressures, gain valuable knowledge so you can make informed decisions and stay ahead in the industry.
Tom Robinson • 21/11/2023


Get in touch with one of our professionals.
With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Cookies.
Agree and Close
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All