Whitbread Acquires Office Building for Hotel Conversion in Leeds

Whitbread PLC, the parent company of Premier Inn, has added to its portfolio by acquiring a 42,000-square-foot office building in Leeds city centre. The building, Verity House, is slated to be converted into a Premier Inn hotel, pending planning permission.

Located in the South Bank area of the city centre, the building is ideally situated for transformation into a hotel due to its proximity to Leeds Railway Station. Whitbread plans to retrofit the L-shaped building into a Premier Inn hotel and seek planning consent for an extension.

Whitbread’s Acquisitions Manager, Jill Anderson, noted that converting office buildings into hotels is a tried and tested way for the company to expand in locations where development opportunities are limited. In addition to offering environmental benefits by extending the lifespan of existing buildings, the conversion also aligns with Whitbread’s growth strategy in Leeds.

The acquisition of Verity House will enhance Whitbread’s development pipeline in Leeds, adding to its eight Premier Inn locations across the city. Premier Inn also plans to occupy a space in the Leeds Kirkgate redevelopment, a project led by Leeds City Council. This development was granted planning permission in December 2023 and is set to offer 143 bedrooms, a bar, and a restaurant.

WSB property consultants advised Whitbread during the acquisition of Verity House, while Commercial Property Partners advised the seller. This acquisition expands Whitbread’s development pipeline in Leeds to two locations and over 250 hotel bedrooms.