Orion purchases 50% of White Rose Office Park to form new joint venture with Munroe K (UK)

A fund managed by Orion Capital Managers has acquired a 50% interest in the 470,000-ft² (approx. 43,600-m²) White Rose Office Park in Leeds, owned by specialist property investment company Munroe K.

White Rose Office Park

White Rose Office Park.

The transaction comes as Munroe K is planning the next phases of expansion at the 27-acre mid-town Business Park located three miles from Leeds city center.

Orion's decision to invest in the White Rose Office Park, valued at around €149 million, underlines the strong foundations of its tenant profile and the great potential still to come from the Park as development plans for the entire corridor in which it is situated are being formulated in conjunction with neighboring owners, the Council and other associated businesses.

The Park adjoins the White Rose shopping center and bus station.

David Aspin of Munroe K said: "Orion was a terrific choice for me when it came to finding someone with the skill set to support the growth of the White Rose Office Park. The acquisition by Orion underscores my belief in the future of the Park and gives Munroe K one of the truly forward thinking Fund Managers to partner, further manage and develop the business park."

Bruce Bossom of Orion said: "We are pleased to have joined David and Munroe K on the successful White Rose Office Park and look forward to supporting Munroe K's exciting initiatives to support the existing major tenants such as Telefonica(o2), HSBC, DePuy (a Johnson & Johnson subsidiary ), The West Yorkshire Police Authority, the Northern Directorate of the Inland Revenue, and WSP PLC as well as future expansion plans."

White Rose Office Park is fully occupied apart from a suite of 7,000 ft² which will be coming to the Yorkshire property market in the next few months.

Source: Aylwin Communications

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