Bright future for The Tannery
THE BUSINESS DESK.COM
8 June 2010
By Ian Briggs - Deputy Editor, Yorkshire
YORKSHIRE property investment and development company Bracken Developments is defying the downturn after launching its second serviced office centre. Ian Briggs reports.
With the property sector having been hit hard by the recession, there aren't many within the industry who have been contemplating expansion.
But for Bracken Developments, the downturn has offered opportunities to grow rather than simply consolidate.
Following the success of Calls Wharf, Bracken's first serviced office which was almost 100% occupied within its first year of launch, the company has opened its second premises, also in Leeds.
The Tannery, formerly the regional head offices of Arla Foods and Craven Dairies, has been transformed, in partnership with the building's owner Marshall, into an office building fit for the 21st century.
Neil Clark, joint managing director of Leeds-based Bracken, said the economic downturn had boosted the business because companies were keen to move into serviced office buildings to save on costs and downsize.
Public relations firm Ptarmigan has relocated from Calls Wharf to 27,000 sq ft The Tannery, which is located on Kirkstall Road close to Leeds city centre, while there have been numerous enquiries from prospective tenants.
Mr Clark said: "We're following on with the Tannery thanks to the success of The Calls. We're getting a mix of enquiries from people who want smaller rooms, people who want to pay less and people who want more choice.
"We're trying to expand the brand and the group."
Mr Clark said Bracken's plan was to open further serviced office premises but there were no immediate plans to expand its portfolio.
Mr Clark said: "We want to go to slightly quirkier locations. If we were to do more we would look possibly at the suburban market. But we'll stay in the Leeds area.
He added: "There's been some great interest in The Tannery. It's got that different edge for businesses that don't necessarily want city centre premises. But this is still only one mile from the centre.
"We're optimistic. It was a tough year last year but companies have got through that and are looking forward."
Offices are presently available from 1,500 sq ft to 3,500 sq ft while larger offices will be availale shortly. The Tannery also offers on-site parking.
Agents on the scheme are Carter Towler and WSB.
