Former Palmer and Harvey site acquired by property investor

An 8-acre section of the former Palmer and Harvey site on Gelderd Road, Leeds, has been acquired.

GVA completed the sale of the site to Halifax-based developer and investor, VCEP, on behalf of joint administrators for an undisclosed sum.

The site fronts onto Gelderd Road, which is predominantly a mixed motor trade and trade counter location.

A 70,000 sq ft warehouse, also part of the former Palmer and Harvey site, was acquired by industrial property firm Towngate in a £3m deal earlier last month.

Rob Oliver from GVA, said: “This site represents a relatively large opportunity for redevelopment on the Gelderd Road corridor between Leeds city centre and the M62, which has always been a prime commercial location. With an extensive frontage and high visibility, together with three access points, there is plenty of flexibility about how it can be developed.

“We knew that the Palmer and Harvey site would attract high levels of interest and we are very pleased with responses that we have had, and the number of offers that we received from credible bidders.

“We wish VCEP well with its proposed development and we are already talking to occupiers that have expressed interest in taking units on the site in the future.”

Clive Lloyd from VCEP, said: “We are absolutely delighted to have secured this site and we are now considering a number of design and development options for the scheme, which will now be renamed as Gelderd Park.”

GVA and Walker Singleton have been retained to market Gelderd Park on behalf of VCEP.