Electronics giant sees the Logic with 360,000 sq ft warehouse investment

Technology distributor Premier Farnell has announced its investment in a 360,000 sq foot warehouse at Muse Development’s Logic Leeds, within a Leeds City Council Enterprise Zone, retaining £650m in revenue and jobs in the region.

Construction of the distribution warehouse will begin this month and is scheduled to complete by the end of the year. The site will stock over 420,000 products and has the potential for up to one million sq ft of distribution capacity as the business continues to respond to market growth opportunities.

Premier Farnell, which is relocating from a distribution unit at Armley in Leeds, is taking a 20-year lease on the building.

Graham McBeth, president of Premier Farnell said; “This is a significant investment in a modern, automated warehouse, made possible by the opportunities for growth in the market and the support of our American parent company, Avnet. I am delighted that we are retaining our presence in Leeds.

James Scott, development director with national developer and regeneration specialist Muse, said: “This is fantastic news and another significant milestone in the Logic Leeds story. The decision by Premier Farnell, a worldwide player in the electronics distribution industry, to come to Logic Leeds is a testament to the qualities of our development.

“Our pioneering manufacturing and distribution development benefits from a number of incentives for occupiers because it is part of Leeds City Region Enterprise Zone. These incentives, plus Logic Leeds’s unrivalled location just half-a-mile from Junction 45 of the M1 and within 1 mile of Leeds City Centre, makes this development a very attractive proposition for occupiers.”

Nick Wilkins, chief global supply chain officer, Premier Farnell said: “We are delighted to be retaining our presence in Leeds, alongside retail giants such as Amazon and John Lewis. The Logic Leeds development provides significant opportunities for Premier Farnell in terms of location and green credentials, whilst allowing us to maintain our long relationship with the Yorkshire region.”

The letting to Premier Farnell shortly follows the sale of three units, comprising 100,000 sq ft, by Muse to Leeds City Council for an undisclosed sum. The units are currently under construction and will be ready for occupation in late spring this year.

Logic Leeds, which also houses both an Amazon and John Lewis distribution hub, benefits from enterprise incentives including simplified local authority planning, government support for superfast broadband and tax relief on Enhanced Capital Allowances.

Scott said: “With occupiers like Amazon and John Lewis, and now Premier Farnell, Logic Leeds’s reputation as a first-class destination for logistics and industrial property is well and truly established.

“There is strong interest in the remainder of the site, which is helping us to achieve our aim of delivering more quality industrial and distribution space in the region. This interest also shows that the Yorkshire industrial property market remains buoyant.”

Roger Marsh, chair of Leeds City Region Enterprise Partnership (LEP), said: “We are delighted that Premier Farnell will enhance their high service distribution of technology products and solutions from what will be the largest ever warehouse development in Leeds. Our key industrial sectors are changing rapidly and the ability to embrace and adopt fast emerging digital technology and the Internet of Things, whereby computing devices are embedded in everyday objects to send and receive data, will improve our productivity and define our future economic identity. This decision means Premier Farnell – a global tech leader – can sit at the heart of this opportunity and pioneer this strategy from Leeds City Region Enterprise Zone.”

The marketing agents for Logic Leeds are the Leeds offices of Carter Towler and Knight Frank, while Cushman and Wakefield acted for Premier Farnell. The main contractor is Sheffield-based Bowmer and Kirkland.