Celebration as £8million speculative EZ development completes
27 Mar 2017
Wilton Developments has completed its £8million speculative development, Kinetic 45 in the heart of the Leeds City Region Enterprise Zone.
The 83,000 sq ft commercial development on Newmarket Lane, was delivered by a Yorkshire team including GMI Construction, JPG Engineers, Leeds based KPP architects, Rex Procter and Partners and CBRE. Langleys in York and Shulmans in Leeds provided legal and construction legal advice.
At an event on site this week, Jason Stowe, Managing Director of Wilton Developments said: “We delivered the first ever speculative development in the Enterprise Zone, Connex 45, which was swiftly let to Fed Ex and Perspex Distribution Ltd. This enabled us to recycle the receipts into this next project, again using a Yorkshire based design and construction team. This ensures that the investment Wilton Developments has made stays within the region, boosting the economy and creating local jobs.”
Kinetic 45 incorporates a standalone 60,000 sq ft industrial unit with high quality office space and two smaller units of 11,000 and 12,000 sq ft which can be combined to deliver 23,000 sq ft. All of the buildings have their own high quality office and reception facilities and are set with secure yards. Business Rates relief exist for new occupiers at this Enterprise Zone location.
Wilton Developments was joined by Leeds City Council and the Leeds City Region LEP at the completion ceremony on the four acre site.
Roger Marsh OBE, Chair of Leeds City Region Enterprise Partnership (the LEP) commented: “Kinetic 45 is the next phase in the evolution of the Leeds City Region Enterprise Zone, which is a key part of the Region’s Strategic Economic Plan. Over the last 12 months, the Enterprise Zone has attracted a number of international occupiers including Amazon and Perspex Distribution, and I’m sure with this latest high quality development by Wilton Developments, further international businesses will follow. Through developments such as this we can create new jobs for the local community and ultimately deliver upon the region’s economic potential.”
The Enterprise Zone comprises 142 hectares of prime employment land adjacent to the M1 motorway, just two miles from Leeds City Centre and is an ideal location for manufacturing and supply chain companies. Fully developed it has the ability to foster more than 9,500 jobs.
Wilton Developments has appointed CBRE’s Leeds Industrial Agency team as sole agent on Kinetic 45. Mike Baugh Senior Director from CBRE said: “Kinetic 45 represents the only large scale speculative development taking place in the Leeds area currently and we are delighted to be working with Wilton Developments on this project. Given the quality of the scheme under construction, the lack of supply of modern units in the Leeds area and the Enterprise Zone location we are already seeing a good level of interest from the occupier market”