CBRE complete sale of Kinetic 45 units
18 Jul 2017
Acting on behalf of developer, Wilton Developments, CBRE’s Industrial & Logistics team in Leeds has completed the sale of Units 2 & 3 at Kinetic 45, Leeds to world leading vehicle cleaning equipment provider, EHRLE UK. The £8m speculative development is situated in the heart of the Leeds City Region Enterprise Zone.
The Kinetic 45 development which lies on Newmarket Lane, comprises 83,000 sq ft and was completed in March this year. It includes a standalone 60,000 sq ft industrial unit with high quality office space and two smaller Units 2/3, purchased by EHRLE UK, offering 11,000 and 12,000 sq ft, which combined deliver 23,000 sq ft. The 60,000 sq ft unit is still available to lease or purchase.
As well as modern office accommodation, each building boasts reception facilities and secure yards.
Along with CBRE, the Kinetic 45 commercial development was delivered by a Yorkshire team, including GMI Construction, Leeds-based KPP architects, JPG Engineers, Rex Procter and MRB Consulting Engineers.
The Leeds City Region Enterprise Zone encompasses 142 hectares of prime employment land adjacent to the M1 motorway and the development is located just two miles from Leeds City Centre. The zone is an ideal location for manufacturing and supply chain companies and has potential to create more than 9,500 local jobs when fully developed.
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, Chair of the Leeds City Region Enterprise Partnership added:
“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 concluded:
“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.”