Elizabeth House deal for Finnegan

JF Finnegan has purchased the Elizabeth House office building on Queen Street in Leeds to transform it into a new head office for law firm Clarion.

The Sheffield-based developer has acquired the vacant 25,000sq ft building from Valad Property Group, acting on behalf of the Osprey managed fund, for an undisclosed sum.

It will shortly commence a comprehensive Grade A refurbishment programme to create high quality, contemporary office accommodation.

Clarion plans to relocate its 100-strong team from its existing 10,000sq ft Leeds office on Oxford Place, into 15,000sq ft of office space next April.

As well as refurbishing the interior, there are plans to modernise the exterior of the building. The upgrade will include creating a dedicated entrance for Clarion leading to its own reception area and three floors of office space.

Philip Hollister, chairman of JF Finnegan, said; “Elizabeth House presented an excellent opportunity for us to expand our portfolio and acquire a flagship office building in the heart of Leeds’ business district as well as bringing a significant building such as this back into use. Our in-house resources enable us to undertake the complete refurbishment works of the internal space and the external upgrade. We will be progressing with the refurbishment in the next few weeks with a view to complete by early 2012.”