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Glenbrook Investments Makes £6.7M Mixed-Use Acquisition

Commercial People has learned that the Manchester-based commercial property developer and investor Glenbrook Investments has expanded its portfolio into Yorkshire with the acquisition of a mixed-use building in Leeds.

Glenbrook Investments purchases the Grade II-listed Albion Court for £6.7m, which stands at 31,400 sq ft and provides a mix of leisure, retail and office accommodation over five storeys.

Located within Leeds City Centre, Albion Court was originally named the Leeds Church Institute when it was completed in 1868. Initially, the building was used for educational purposes before being converted to commercial use and extended in 1980. Notably, the British Deaf Institute was founded within the building in 1890.

Current ground floor tenants include Pizza Express, Byron Burger and Card Factory, while the upper floors are let as a serviced office to Bracken Workspace.

Commenting on the purchase, Scott Griffiths, Director, Investment Management at Glenbrook, said: “This opportunity fits with our strategy of acquiring good quality assets let off low rents, where fundamentals support the prospects for an asset management-led recovery. We were particularly attracted by the proximity to significant tenant amenity and Leeds’ major transport hubs, plus the architectural features of the building make it instantly recognisable.”

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