LIVERPOOL property group Downing has sold a major Leeds site to Aviva for £37.65m.

Broadcasting Place is a 110,000 sq ft scheme which is entirely let to Leeds Metropolitan University on a 22-year lease.

Downing has retained ownership and management of the student accommodation element of the scheme – the 23-storey Broadcasting Tower which contains 241 student residences.

The deal follows on from the £32.5m sale of the first phase of its Downing Plaza scheme in Newcastle to Merchant Place Corporate Finance last November.

And last month Downing also secured Liverpool’s largest-ever commercial letting when the UK Border Agency (UKBA) took 220,000 sq ft at The Capital building in the heart of the city’s commercial district.

Paul Houghton, development director at Downing, said: “This strategic disposal marks the culmination of a very fruitful three months for Downing. It will allow us to build on the success of the UKBA letting and the sale of Downing Plaza phase one, to move forward in 2010.
 
“There is no doubt that this will be another tough year for the industry. However, the successful conclusion of these deals means we are in a strong position to take advantage of the significant opportunities presented by changing market conditions.”