Immobel Capital Partners, a listed real estate developer based in Belgium, has agreed to acquire 50 percent of the White Rose Park from OIRP Investment 10, part of Orion Capital Managers, for £110 million (€132 million/$144 million).
White Rose is a 28-acre green office campus, located near the city of Leeds. It is currently 98 percent leased. Tenants include DAZN, HSBC, Capita, Telefonica, Gorse Academies Trust, the NHS, and the Police & Crime Commissioner for West Yorkshire. Other amenities include 20 acres of open space, conference center, outdoor sports pitch, restaurants and a nursery.
A new train station is planned to connect it to central Leeds.
The off-market transaction is the first investment for the newly launched Immobel Capital Partners and will be the first seed asset forming a key plank in its green office strategy. The firm plans to invest in and create a new generation of green offices in major European cities.
