£12 million forward funding agreement for a major industrial unit

Total Developments has agreed a £12 million forward funding agreement for a major industrial unit at Total Park in Leeds.

The Shoosmiths UK real estate team advised Total Developments on the agreement, which covers the forward sale of a brand new development of a 57,000 sq ft unit that will be completed in August 2020. The unit already has a lease agreement in place for major logistics company DHL.

Andrew Pattinson real estate partner at Shoosmiths said: “This is another fantastic project for Total Developments and will represent a major new logistics hub for Leeds and wider afield.”

Total Developments CEO Ed Chantler said: “The team at Shoosmiths has been extremely committed in helping us get this deal over the line, especially with such tight deadlines. We’d like to thank them for their continued support and look forward to working with them again.”