Building begins to create 13-acre urban logistics park

Works have begun at Velocity Point, a speculative industrial development outside Leeds city centre funded by UBS Asset Management.

Nine units are now available for pre-lets. Once finished, the scheme will be set across 13 acres with units ranging from 3,500 sq ft to 108,500 sq ft.

The site is being marketed by Savills, CBRE and Carter Towler, all of which have seen interest from occupiers before beginning formal marketing.

Matthew Ewin, industrial and logistics associate director at Savills Leeds, said: “Given the ongoing lack of supply we are still seeing for industrial units across the region, this new multi-let development will be a welcome addition to the market and will certainly be of interest to occupiers across all size ranges.”

Josh Holmes, director at Carter Towler, added: “The sharp focus on sustainability and efficiency of this scheme will be a highly desirable attribute with prospective tenants, particularly in light of the current energy crisis and the growing spotlight on ESG.

“We are seeing strong interest from occupiers which are currently in older properties that are now becoming outdated and unfit for purpose for the modern ESG conscious industrial occupier.”