Revamp plans unveiled following £3m acquisition of industrial warehouse site

Towngate PLC, the commercial lettings specialist and landlord, has unveiled its refurbishment plans for the recently acquired industrial warehouse on Gelderd Road.

Acquired in a £3m deal by Carter Towler on behalf of Towngate Plc, the 62,000 sq ft property was previously occupied by wholesaler Palmer & Harvey.

Located less than one mile from the city centre at 135 Gelderd Road, the site is situated within Leeds’s industrial/trade area and complements Towngate’s existing portfolio of properties in the area.

Now completion of the purchase has taken place, a total refurbishment of the site is due to commence imminently.

This will entail a new roof to the main section of the building, demolition of outbuildings to create a large service yard, and installation of additional loading doors which will increase loading capacity and boost circulation efficiency.

Josh Holmes, director at Carter Towler, said: “Interest in the site is already encouraging, with occupiers expressing enthusiasm regarding the proposed works. With plans in place to conduct a full refurb, Towngate is on track to transform it into a highly sought-after warehouse space – perfect for companies operating in the urban logistics and trade leasing market.

“We’re happy to see Towngate adding to its impressive portfolio of industrial properties, and looking forward to seeing the site’s full potential realised.”

Tom Lam, property manager, added: “We are delighted to add yet another warehouse unit to our portfolio of Leeds properties on Gelderd Road. It’s in a prime location, whilst its highly functional space has tonnes of potential which we can’t wait to build on.

“We’re excited to start the revamp and breathe new life into the site. Demand for such industrial units is healthy in the Leeds area, so we’re confident there’ll be no shortage of interest.”

Renovation of the newly branded Gelderd Cross is expected to conclude later this year and the property will be marketed to let via Carter Towler and Eddisons.