Markel commits to Leeds move
The insurance firm is to double its footprint in the city, taking 20,000 sq ft at the recently completed City Square House.
Markel’s move comes 34 years after its first office opened in the city.
MRP, the development arm of Irish property group McAleer & Rushe, finished City Square House, close to Leeds station, in May, with 85% of its 140,000 sq ft let.
Markel covers the insurance operations within the New York Stock Exchange-listed Markel Group Inc, and will occupy space across the ninth and 10th floors of the new building.
Since launching in Leeds in 1990, employee numbers in the city have climbed from three to 160. The firm will move from Canal Wharf, Holbeck. Knight Frank advised.
Neil Galjaard, Markel’s divisional managing director for the UK, said: “Leeds has been a fantastic base for the business, fueling our growth over the past three decades and we’re pleased to be increasing our investment in the city for the long term with a new office.
“Over our time in Leeds we’ve grown from a small operation to being a major employer and consider our people our greatest strength. As a people-first business, we’re excited to welcome employees, partners and customers to our new office.
“With continued projected growth, our new Leeds base will support our growing teams as they continue their award-winning work championing customers and creating bespoke solutions that provide meaningful support to businesses across the country.”
Sarah Collings, business process lead at Markel, who was one of the first employees in Leeds, added: “Over the past 35 years I’ve seen many positive changes in both Markel and Leeds. The move to City Square House demonstrates the business’s commitment to the city but also provides a modern workspace for all our team members.”
The deal reflects a positive flow of transactions in the Leeds office market, which enjoyed a bumper first quarter of 2024 before falling back slightly in Q2. Recent weeks have seen Saffery choose to open a base in the city, while the Financial Conduct Authority has committed to a further 5,000 sq ft.
