Retail giant signs up to Enterprise Zone
US internet giant Amazon has signed up for a massive 81,000 sq ft building at major logistics development Logic Leeds.
The industrial unit has 4,000 sq ft of offices, and construction commenced on the site in November 2014.
Amazon recently signed a distribution agreement with Morrisons, and will make hundreds of products available on Amazon Prime Now and Amazon Pantry.
The company is the latest high profile tenant to sign up to the site which is being delivered by Muse Developments.
In 2015 it was announced that John Lewis would be taking on a 50,500 sq ft distribution warehouse, construction of which is currently underway.
Muse sold the site to AXA’s UK Long Lease Property Fund for £6.2m in September 2015.
Logic Leeds has Leeds City Region Enterprise Zone status, and was supported by a £2.5m grant agreement with Leeds City Council.
Its Enterprise Zone status means that it benefits from a range of incentives for occupiers including a discount on business rates, worth up to £275,000 per business over a five-year period; a simplified and accelerated planning process and an opportunity for enhanced capital allowance claims.
Part of the Aire Valley regeneration scheme, when complete, Logic Leeds will provide 1.4 million sq ft of development space, offering big sheds as well as smaller ‘own front door’ units.
The scheme is served by the east Leeds link road (A63), connecting Leeds’ inner ring road with the M1 at junction 45. Developers say that it has the potential to create up to 29,000 job over the next 10-15 years.
Muse Developments declined to comment.
