Member Article

DWF advises on purchase of former Lumiere site in Leeds

Business law firm, DWF, has advised Roydhouse Properties (Central Square) Limited on the purchase of the 1.5 acre former Lumiere site in Leeds City Centre.

In a deal expected to change the real estate landscape of the city, Roydhouse Properties, a special purpose vehicle made up of private investors, including Steve Parkin and Gurnaik Chima, purchased the site from Lumiere liquidators, Deloitte.

Original plans focussed on creating Western Europe’s tallest residential scheme, The Lumiere, which would feature two towers of 55 and 33 storeys. However, since the owners, KW Linfoot, went into administration in 2009 the plot has remained derelict.

Steve Parkin said: “There is a lack of top quality grade A office space in the centre of Leeds and the Lumiere site provides a fantastic opportunity to rectify this problem. We plan to build an iconic office building that Leeds can be proud of and are currently working with a number of individuals to ensure we accommodate everyone’s requirements from the outset.”

Mark Barnes, asset manager for Roydhouse Properties, said: “Our acquisition means that the Central Square development, the final remaining piece of undeveloped land in this area, can now move forward with confidence. We are working with our design team to ensure we provide an iconic building on the best site in Leeds.”

Jim Speed, partner in the real estate team at DWF led the deal in conjunction with Guy Jackson, partner in the corporate team.

He added: “We are delighted to have acted on the purchase of this key development for the city. Acting swiftly and commercially was vital to delivering this deal and we are proud to support Roydhouse Properties in transforming the Leeds city landscape in this exciting project.”

This was posted in Bdaily's Members' News section by David Gatehouse .