Deal agreed for Merchant Gate offices

03 January 2019

Deal agreed for Merchant Gate offices

A property support service has agreed a deal for office space at the Merchant Gate mixed-use development in Wakefield.

B38 Group has signed a five-year lease for 6,683 sq ft of grade A space at No.2 Burgage Square.

The Leeds office of property consultancy Knight Frank advised landlord The English Cities Fund, which is a joint venture partnership between Muse Developments, Legal & General and Homes England.

Merchant Gate comprises office buildings, retail and leisure facilities, 66 residential flats, a new public square, along with a 1,500-space multi-storey car park and a new college for performing arts, which is due to be on site early this year. It is also is home to Wakefield Council's civic offices, library and museum at Wakefield One.

Sam Jamieson, of Knight Frank in Leeds, said: "Merchant Gate, and strategic schemes like it in the city, is changing people's perceptions of Wakefield. The city, benefitting from substantial investment, a proud history and an excellent location, is no longer in the shadow of its larger neighbour Leeds."

B38 Group is moving from Denby Dale Road on the outskirts of Wakefield following a series of contract wins. The company has UK revenues of around £12.5m and is targeting further growth over the next two years.

Richard Phillips, co-founder of B38 Group, said: "Alongside an increased amount of self-delivery of services, the last six months have seen the business grow in line with both target and aspiration. We see the move into central Wakefield as an obvious next step to attract more talent who find accessing central Wakefield by train to be advantageous."

The Leeds office of property consultancy JLL is the joint marketing agent for Merchant Gate with Knight Frank.