Zurich House, 4 Canal Wharf, Leeds

Planning

The site has full planning permission for the demolition of the existing building and erection of a 170 unit residential scheme. The plans comprise ground floor plus 8/9/10 stories within two integrated blocks with a dual core. The development would provide external communal amenity spaces to the 9th floor roof terrace, ground floor surface landscaping, a resident’s gym, cinema room, dining/function room, flexible workspace and communal seating areas within the ground floor of the building. Further information on the planning permission can be found within the dataroom. The planning application can be viewed on Leeds City Council’s planning portal by searching reference no. 24/03842/FU. The site may also be suitable for a variety of other residential uses including open market sales, hotel and co-living (subject to planning).

Site Location

The site is located within the central part of the South Bank area of Leeds City Centre to the south of Granary Wharf. The site is immediately bounded to the north by Canal Wharf Road and the River Aire and Leeds and Liverpool Canal run west to east, about 30m to the north of the site. To the east is Granary Wharf House and to the west is Verity House, both office buildings. To the south, the site is bounded by the Holbeck watercourse and Water Lane. The site is within the South Bank regeneration area, which has seen significant redevelopment in recent years. Verity House immediately to the west has recently been sold to Premier Inn for redevelopment. The former Lloyds site immediately to the south of Water Lane is also set to be redeveloped and is currently in for planning permission for a mixed use scheme. Leeds Train Station is located within a 5-minute walk to the north of the site, accessible by the stations southern entrance. There are bus stops within a 5-minute walk providing regular services across Leeds. The site has good cycling connections, with signposted routes along Neville Street and traffic-free routes along the River Aire waterfront. Water Lane to the south connects the site strategically to major roads like the A653, A61 and M621. The two main business districts in Leeds City Centre, Wellington Place to the north west and Aire Park to the east are located less than a 10 minute walk. The many amenities of Leeds City Centre, including restaurants, bars, cafes and shops can be reached in less than a 10 minute walk.

Site Description

The site extends to approximately 0.27 hectares and currently comprises Zurich House, a two storey self-contained office building constructed in 1994. The property is arranged over a basement, ground and first floor. The basement accommodates 27 parking spaces, with further surface parking for 23 cars. The site is located in Flood Zone 2, defined as areas that have an annual probability of river flooding between 0.1% and 1% Annual Exceedance Probability (AEP) i.e. a 1 in 1000 to 1 in 100-year chance. However, due to existing flood defences, the actual risk of fluvial and tidal flooding for the proposed development is low. Existing flood defences significantly reduce flood risk. The site is not within a conservation area and there are no listed buildings/nondesignated heritage assets within the site boundary. However, the site is close to two conservation areas and forms part of their setting (due to intervisibility), and there are several listed buildings nearby.

Funding

An application has been made to West Yorkshire Combine Authority (WYCA) Brownfield Housing Fund on 26th June 2024 to support the delivery of the scheme. The request from WYCA is for a total of £3,330,000. A copy of the application can be found within the data room. Should the application be approved the funding will be secured against the Special Purchase Vehicle (SPV) the asset sits within.

Tenancy

The existing office is partially let on the first floor. The tenant is in occupation under a lease expiring in November 2027 with a passing rent of £217,011 per annum. A copy of the lease can be found in the dataroom.

Method of Sale

The subject site is for sale by way of Private Treaty; however we reserve the right to conclude the marketing by an Informal Tender process.

Viewings

Access will be provided to the site through a number of viewing dates. We ask interested parties refrain from entering without prior consent. Please contact JLL to register your interest in arranging a viewing.

Offer Deadline

We are inviting offers on an unconditional basis by 12 noon Wednesday 16th July 2025. An offer pro-forma will be provided within the dataroom, we ask interested parties to complete this in full as part of their offer submission.

Further Information

Please contact JLL to gain access to the dedicated

dataroom, which includes:

• Planning Permission and supporting documentation
• WYCA funding application
• Tenancy details

Title

The site is held under title number WYK565451.

VAT

We understand the site has been elected for VAT.

Rateable Value

Available upon request.