£8m Leeds speculative commercial site completes

Mark Mills Leeds City Council; Mike Baugh CBRE; Jason Stowe Wilton Developments; Roger Marsh OBE chairman of Leeds City Region LEP

Work has completed on the £8m commercial development Kinetic 85 in a Leeds Enterprise Zone.

The development includes a 60,000 sq ft industrial unit with office space and two smaller units of 11,000 and 12,000 sq ft which can be combined.

Wilton Developments have completed the 83,000 sq ft site on Newmarket Lane, which was delivered by a team including GMI Construction, JPG Engineering, Leeds based KPP architects, Rex Procter and Partners and CBRE.  Langleys in York and Shulmans in Leeds provided legal advice.

Jason Stowe, managing director of Wilton Developments said: “We delivered the first ever speculative development in the Enterprise Zone, Connex 45, which was swiftly let to Fed Ex and Perspex Distribution Ltd.

“This enabled us to recycle the receipts into this next project, again using a Yorkshire based design and construction team. This ensures that the investment Wilton Developments has made stays within the region, boosting the economy and creating local jobs.”

Wilton Developments was joined by Leeds City Council and the Leeds City Region LEP at the completion ceremony on the four acre site.

Roger Marsh OBE, chairman of Leeds City Region Enterprise Partnership (the LEP) commented: “Kinetic 45 is the next phase in the evolution of the Leeds City Region Enterprise Zone, which is a key part of the Region’s Strategic Economic Plan.

“Over the last 12 months, the Enterprise Zone has attracted a number of international occupiers including Amazon and Perspex Distribution, and I’m sure with this latest high quality development by Wilton Developments, further international businesses will follow. Through developments such as this we can create new jobs for the local community and ultimately deliver upon the region’s economic potential.”

The Enterprise Zone comprises 142 hectares of prime employment land adjacent to the M1 motorway, with capacity for more than 9,500 jobs.

Wilton Developments has appointed CBRE’s Leeds Industrial Agency team as sole agent on Kinetic 45. Mike Baugh senior director from CBRE said: “Kinetic 45 represents the only large scale speculative development taking place in the Leeds area currently and we are delighted to be working with Wilton Developments on this project.”

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