Moorfield buys West Riding House

Moorfield Group has paid an undisclosed sum for West Riding House, in Leeds city centre, on behalf of its Moorfield Real Estate Fund II. Anglo Irish Bank placed West Riding House in Law of Property Act (LPA) receivership last year when its private investment company-owner defaulted on a loan that it used to buy the 15-storey mixed-use block. The building includes 64,000 sq ft of prime retail space and 76,000 sq ft of offices, supported by a 440 space multi-storey car park.

Marc Gilbard, chief executive of Moorfield, said a scheme of this size in such a prime location made West Riding House an interesting investment opportunity. “There is the scope to further asset manage this building by attracting new occupiers and exploring the opportunity to extend existing facilities.” GVA, which led the sale of the property, was appointed LPA receiver last April. Savills acted on behalf of Moorfield Group.