Conrad Ritblat - Leeds, City West Office Park

Date: 02 Mar 1998

Delancey Estates, represented by agents Conrad Ritblat and John Dixon and Company, has bought a 2,852.93 sq m (30,790 sq ft) office investment at No 1 City West Office Park, Leeds for £5.6 million from Landmark Development Projects reflecting a yield of 8.4%.

The purchase is subject to formal ratification by a special EGM of Delancey's Shareholders on the 2 March 1998.

The property, which was completed in 1996 is arranged on three floors and is let to Ionica Plc, Prudential Assurance and Scottish and Newcastle producing £491,000 per annum. Knight Frank (0171-629 8171) advised Landmark Developments.

David Hyams of Conrad Ritblat said " This purchase highlights business confidence in the out of town office market, where the benefit of high car parking provision is proving particularly attractive."

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