The Business Desk
6th February 2019
Specialist insurer Syndicate 2525 is making the move to refurbished office space in Leeds city centre.
Syndicate 2525, which is relocating from Park Place, has agreed a 10-year lease for a 1,949 sq ft suite at 36 Park Row.
APAM, the specialist UK real estate asset and investment manager, completed a refurbishment of the property, including converting four suites into 8,000 sq ft of boutique office space.
Peter Owen of APAM said: “We acquired the building November 2017 having identified significant opportunity to re-position the building due to its prime location on Park Row and proximity to the railway station.
“Having successfully completed phase one of our refurbishment programme, we now have plans to invest a further £1m in the property and create another 10,000 sq ft of Grade A, state-of-the-art office space.”
Joanne Sutcliffe, UK claims manager of Syndicate 2525, added: “Syndicate 2525 is a specialist Employer’s and Third Party Liability Lloyd’s insurer. Formed in 2000, the syndicate has established itself as a leader within the London Market in all aspects of liability business, including offshore and construction risks. For UK claims, the focal point is our office in Leeds, which was opened in 2003.
“Having come to the end of our current lease, we sought to identify a high-quality office suite that would provide a positive working environment within the business district of Leeds, with transport and amenities in close proximity. 36 Park Row met our criteria perfectly.
“We are working closely with our office fit out company and hope to move in early March.”
Elizabeth Ridler, partner in the office agency team of Knight Frank in Leeds, also said: “On the back of this letting, coupled with strong interest in the remaining three refurbished suites, we are looking forward to Phase Two, which will involve the refurbishment of an additional 10,000 sq ft together with new showers and lockers in the basement.
Other tenants in the building include Royal Haskoning DHV, Leonard Curtis and Chiropractic First.
Knight Frank and WSB acted for APAM.
WSB are pleased to welcome Syndicate 2525 to 36 Park Row. A great result following a comprehensive refurbishment to the building.