Deal for £8m Leeds speculative industrial scheme signed
Vehicle cleaning equipment provider EHRLE UK has acquired 23,000 sq ft of speculative industrial space at Leeds’ Kinetic 45.
The £8m development in the centre of the Leeds City Region Enterprise Zone comprises of 83,000 sq ft and was completed in March this year.
Now EHRLE will take units 2 and 3, with another 60,000 sq unit still available.
Developer Wilton Developments brought in CBRE’s Industrial & Logistics team to sell the site on Newmarket Lane.
The Kinetic 45 commercial development was delivered by a Yorkshire team, including GMI Construction, Leeds-based KPP architects, JPG Engineering, Rex Procter and MRB Consulting Engineers.
Jason Stowe, managing director at Wilton Developments commented: “We are pleased to see the early sale of units 2 & 3 happen so quickly after practical completion of our second scheme in the Leeds EZ. This is a reflection of the limited supply of high quality new build units in the wider Leeds market. We now turn our attention to the marketing of the larger 60,000 sq ft unit.”
Mike Baugh, CBRE’s senior director of Industrial and Logistics, commented: “Kinetic 45 is a fantastic addition to the Enterprise Zone offer and is ideally situated to attract key national and international occupiers seeking high quality industrial accommodation. We are delighted to secure a world-leading buyer for two units on the development which promises to be highly sought after.”
Roger Marsh OBE, chairman at LEP said: “The Leeds City Region Enterprise Zone is going from strength to strength, with occupier interest high as a result of its prime location.
“Today’s announcement that EHRLE UK has taken both the 11,000 and 12,000 sq ft units at Kinetic 45 once again shows the high quality of developments being delivered on the Enterprise Zone and by Wilton Developments, which previously delivered Connex 45 which is currently let to Fed Ex and Perspex Distribution Ltd.”
Leeds City Council executive member for regeneration, transport and planning Councillor Richard Lewis said: “It is great to see Wilton Developments’ speculative investment paying off with another new occupier moving into the enterprise zone.
“This is once again testament to the approach that the council has taken to support delivery of the enterprise zone, in this case bringing the land to the market to facilitate the delivery of new employment floorspace.”
