Halifax office interior project resurrected

Office design news from Morgan Lovell

Published on 19-01-2010

A former office project has been brought out of administration near Halifax.

Social housing provider Pennine Housing Assocation bought a 9.18-acre site at Gannex Mills in Elland, where a former £35 million office interior project had been set to get underway.

Unfortunately, its former developer Clayton Homes went into administration in August last year. However, the project has now been resurrected for an undisclosed sum.

Matthew Scholey of chartered surveyor Eddisons commented: "This deal has been completed despite some very tough economic conditions and our client is pleased with the price we have achieved."

Elsewhere, insurance firm Aviva recently announced the purchase of 110,000 sq ft of office space at Broadcasting Place in Leeds for £37.7 million from Liverpool-based property group Downing.

The insurer plans to lease out the property, with the site already pre-let on a 22-year lease to Leeds Metropolitan University, providing an annual return of 5.85 per cent.

Posted by Adrian Norman.