Centurion acquires Leeds Business Park in £17.25 million Joint Venture Deal

Posted on 22 July, 2015 by Kirsten Kennedy

Centurion Properties has acquired Lawnswood Business Park in Leeds, through a new joint venture vehicle, Centurion Capital Partners, funded by specialist property investment manager ICG-Longbow.


The partnership has purchased the modern business park from Canmoor for £17.25 million, reflecting a net initial yield of 8.6 per cent and an equivalent yield of 9.2 per cent.

Lawnswood Business Park is located just five miles from Leeds city centre in an attractive landscaped environment and comprises eight detached office buildings, providing a total of 147,335 sq ft.

At present, the park is multi-let to 14 tenants providing a total passing rent of £1.58 million per annum, although there are numerous asset management opportunities available to increase this further as the current vacancy rate stands at 27.4 per cent.

Lawnswood Business Park is the second acquisition of its kind this year for Centurion following the appointment of Chairman Richard Cotton to steer the company’s ambitious growth plans. In February the company snapped up Bretby Business Park in Burton-on-Trent.


Founder and CEO of London headquartered Centurion, Julian Rooth indicated that the joint venture partnership would be seeking further opportunities of this type in future.

He said; “The acquisition of Lawnswood and Bretby mark a significant step in Centurion’s evolution – both parks provide strong, sustainable cashflow, but offer significant potential to add value through asset management initiatives.

“At Lawnswood, there is the opportunity to lease the empty space, to explore lease re-gears and lease repositioning and to improve the space through a capital expenditure programme. Lawnswood represents our first acquisition with ICG-Longbow, and we are looking for similar opportunities throughout the UK”.

Kevin Cooper, Co-Head of ICG-Longbow, the Real Estate Debt division of Intermediate Capital Group, believes the vehicle’s first acquisition will prove profitable for each party in the joint venture partnership.

He says; “The Lawnswood Business Park is a high quality asset, being bought at an attractive entry price, and we are delighted to have been involved in partnering with Centurion in this transaction. This opportunity is typical of the assets we continue to support partners acquiring.”

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts

The best places to stay on the Riviera

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants

BA cuts 12,000 jobs, unions hit back

Media Streaming Service See Record Subscriptions