Whitbread has acquired the Verity House office building in Leeds city centre for conversion into a hotel.
The Premier Inn owner intends to turn the 42,000 sq ft building in the south bank area of Leeds into a 120-bed Premier Inn and plans to seek planning consent for an extension of the building.
The acquisition of Verity House grows Whitbread’s secured development pipeline in Leeds city centre to two locations and more than 250 pipeline bedrooms. The company’s portfolio comprises over 850 hotels.
Whitbread was advised by WSB property consultants. The vendor was advised by Commercial Property Partners.
What they said
Jill Anderson, acquisitions manager for Whitbread said: “Converting office buildings into budget hotels is a proven route to expanding our presence in popular locations like Leeds City Centre where development opportunities are limited and where we have a requirement to grow.
Verity House makes for a superb hotel location given its proximity to the station and all the amenities in Leeds city centre. It complements our existing network of eight Premier Inn’s across the city, and the location has huge potential. I’m looking forward to working with the City Council’s planning team on repurposing the building.”