Flagship Leeds development gets the go-ahead

LOGIC Leeds, the flagship 110-acre speculative manufacturing and distribution development, has received planning approval.

Following planning approval from Leeds City Council and the signing of a landmark £2.5m grant agreement, funded through the government’s Building Foundations for Growth programme, construction of Muse Developments’ 80,000 sq ft industrial unit in the Leeds City Region Enterprise Zone will begin.

This building, which will include 4,000 sq ft of offices and 100 car parking spaces, is the largest of its kind to be speculatively developed in West Yorkshire since the recession.

David Wells, development director of Muse, said: “Now that full planning approval has been granted by Leeds City Council, our Logic Leeds development can start in earnest. The main construction contract is now out to tender and we anticipate starting work on site in November this year, with completion next summer.

“Planning approval, combined with the £2.5m grant from the Department for Communities and Local Government which will fund the infrastructure to prepare a five acre site, gives the green light to our speculative development of the 80,000 sq ft unit. We are tremendously grateful to Leeds City Council for their support.”

Logic Leeds is part of the Leeds City Region Enterprise Zone, which means that it benefits from a range of incentives for occupiers. These incentives include a discount on business rates, worth up to £275,000 per business over a five-year period; a simplified and accelerated planning process; an opportunity for enhanced capital allowance claims; and high-speed fibre-optic broadband.

Wells said: “These incentives make a real difference. Logic Leeds has always been viable, but we need to encourage occupiers to come here. As space dries up around the M1 and the M62, and coupled with this support from Leeds City Council, our development looks a very attractive option.

“Logic Leeds is one of the most exciting developments to be undertaken in Leeds for many years. The 80,000 sq ft unit, which features four docks, two-level access doors and a large yard, is the largest speculative building of its kind to be developed in West Yorkshire since the recession.”

Tom Lamb, industrial property specialist with global property consultancy Knight Frank, which is marketing Logic Leeds with Carter Towler, said: “The news that Muse has been given the go-ahead to develop an 80,000 sq ft speculative unit at Logic Leeds should be warmly welcomed and it underscores the view that momentum is returning to the West Yorkshire industrial property market.

“It will also kick-start the Logic Leeds development, which has the capacity to create thousands of sustainable jobs for the Leeds City Region and beyond. It is superbly located, with dedicated access from the A63 dual carriageway and close to both Leeds city centre of Yorkshire’s excellent motorway network.

“Overall there is outline planning for 1.6m sq ft of quality industrial, storage and distribution development. All buildings will have a high BREEAM rating and state-of-the-art facilities. We expect Logic Leeds to continue to attract significant interest from local, regional and national business alike, as development gets underway.”