The Leeds tech consultancy has agreed a five-year lease on the last vacant suite, filling Property Alliance Group’s refurbished Park Place offices.
Leeds technology consultancy Avenue3 has taken the last vacant office suite at 33 Park Place Leeds, leaving Property Alliance Group’s city centre building fully let. The firm has agreed a new five-year lease on 2,530 sq ft of fitted space on part of the fourth floor, the landlord announced last week.
Why This Matters For Leeds
A small tech consultancy filling the last suite at a refurbished Park Place building shows Leeds demand reaches beyond new South Bank towers. For landlords of the city’s older stock, a full upgrade with gym, showers and parking is what wins tenants now. Growing tech firms gain another route into the professional quarter close to the station.
The final suite at 33 Park Place Leeds
Avenue3 was set up in November 2020 and offers digital strategy, data architecture and software engineering, with much of its work in health technology. It is an openEHR industry partner and supplies architecture and engineering based on the open health records standard to NHS frontline providers. The company has said it is growing its work across healthcare and defence.
The suite comes fitted out and ready to occupy. The building, about five minutes’ walk from Leeds station, has been refurbished with a remodelled reception, a tenant-only gym with showers, secure cycle storage and on-site car parking. Savills acted for the landlord on the letting, with WSB Property Consultants as joint agent.
Liam Walker, asset manager for Property Alliance, said: “It’s great to see 33 Park Place fully let, particularly in what’s been a challenging market for office lettings. It’s a fantastic result for everyone involved, and a testament to the quality of the space and the work of our letting agents.”
“Bringing 33 Park Place to full occupancy is a clear reflection of the continued strength of demand for Grade A workspace in the city centre.”
Hannah Coleman, Surveyor, Leeds office agency team, Savills
Park Place, York Place and the office market
Manchester-based Property Alliance Group bought 33 Park Place Leeds and 31 York Place next door in 2017 as its first investment in the city. It has since spent more than £1m refurbishing the Park Place building. Avenue3 joins occupiers including LCF Law, UST and Medisoft.
With Park Place full, the landlord is now marketing three flexible suites of 226 sq ft, 366 sq ft and 1,087 sq ft at York Place, which share the same gym and facilities.
The deal lands in a tight market for quality space. Leeds office rents reached a record £52.50 per sq ft in August. Figures published in June showed the city has the lowest prime office supply of any major UK city.
Hannah Coleman, surveyor in the Leeds office agency team at Savills, said occupiers are increasingly focused on quality, location and workplace experience, with the strongest demand concentrated on good quality office space.
- Learn more about Avenue3: avenue3.com
Sources: Property Alliance Group, Leeds office scheme fully let; Property Alliance Group, 33 Park Place building page
