Leeds City Region Enterprise Zone - a microcosm of the market
23 Nov 2015
The Leeds City Region Enterprise Zone is one of the City Region’s key investment opportunities and offers a prime example of the renaissance that is gripping the region’s property market.
Over the last six months the 142 hectare Zone located to the East of Leeds, which includes four sites, has reached a number of milestones. On Newmarket Lane, Veolia, is close to completing work on its new recycling and energy recovery facility, which is due to enter use in 2016. Meanwhile on the largest site Temple Green, Aire Valley Land Ltd has begun remediation and infrastructure works with the first phase of development to include a 1000 space park and ride facility. The two remaining sites, Thornes Farm and Logic Leeds have also seen further development and major occupier announcements. Wilton Developments has completed its Connex 45 development and let one of the units to FedEx, while Muse Development’s Logic Leeds has recently been declared as the location of a 50,500 square foot state-of-the-art distribution warehouse for high-end retailer John Lewis with the developer also completing the speculative build of Logic 80.
Alongside these developments, Samuel Grant Packaging has also moved into its new 50,000 sq ft unit on Thornes Farm, which was supported with a £150,000 grant from Leeds City Region Enterprise Partnership (LEP). LEP support has enabled the company to expand its warehousing capacity by 50%, leading to a 9% increase in turnover, a reduction in overheads, and creating new employment opportunities in the region.