News Desk

Helmsley Group invest in Wakefield Law Courts

Emerald House, a self contained office building which is part of the £140m Merchant Gate development in Wakefield, has been acquired by The Helmsley Group for £3,250,000.

The three-storey building, located near to Westgate railway station, has been let to Her Majesty’s Court and Tribunal Service to amalgamate their Wakefield and Pontefract courts in a 15-year deal at a rent of £234,000pa.

The lease was concluded on behalf of the developers English Cities fund (ECf) and the tenant is expected to take up occupancy of the 14,000 sq ft of grade-A office space in September 2012.

Concurrently, ECf sold the building to York based Helmsley Securities for £3.25m in a deal agreed between Jones Lang LaSalle and Pudney Shuttleworth.

As well as providing 47,000 sq ft of grade ‘A’ office space, Merchant Gate development offers 35,000sq ft of retail and leisure developments, 66 contemporary apartments plus quality public realm in Burgage Square and a new multi-storey car park next to the city’s Westgate station.

Phase two of the development, which includes a new four-storey, 123,000 sq ft Civic Offices is due to open to the public in the summer of 2012.

Contact: Richard Fisk

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