More Information
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LOCATION
Sovereign House is situated in Leeds’ most vibrant quarter, forming a key cornerstone of the city centre Leisure District. Its prime leisure position is moments from Leeds’ other most important districts. The city’s prime retail pitch is one block to the east, while Wellington Place, the city’s prime office campus is 3 minutes’ walk to the south west. The building’s triple frontage to The Headrow, Park Row and South Parade makes Sovereign House one of the Leisure District’s most prominent buildings. Park Row is the major north to south thoroughfare linking the Leisure District’s prime streets of The Headrow, South Parade, Greek Street, Russell Street and East Parade.
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DESCRIPTION
Flight Club opened at Sovereign House in 2021 having significantly invested to create a dual level destination leisure space, capable of accommodating up to 400 people. The following year the Electric Shuffle concept launched on the first floor, creating their first dual concept venue in the UK regions. Electric Shuffle can separately accommodate up to 150 people. Combined the venues are one of the best leisure offerings in Leeds. The self contained offices have undergone a transformative £1.8 million capital expenditure programme to create outstanding Grade A space, providing a mixture of CAT A and Fully Fitted accommodation, with new exposed M&E services and substantial ceiling heights.
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TENANCY
Sovereign House provides a highly attractive Average Weighted Unexpired Lease Term of 11.1 years to expiries and 9.6 years to breaks. The significant AWULT is underpinned by 14.5 years unexpired to Flightclub without break, and a newly agreed 10 year term certain to Bayswater Education. Strativ Group have significantly invested in their office accommodation, which is reflected in their market leading fitout concept. Scope exists to apply their progressive fitout concept across other floors, at a rental tone substantially below the city’s prime rental level.
