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Gateway Site Transformed As Firm Seeks To Expand Portfolio

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28 Jan 2016

Prospect Estates has transformed a Leeds gateway site through the delivery of a flagship new facility for leading UK kitchen and joinery specialist, Magnet.

Planning permission was secured from Leeds City Council last year for the creation of a purpose-built Magnet facility on North Street at Sheepscar Interchange following a pre-let deal to the leading retailer.

Castlehouse Construction completed the build contract on time and on budget to create the new facility which, when fit-out is complete, will incorporate a contemporary kitchen showroom, trade counter, warehouse, offices and parking. The showroom was completed for Boxing Day and fit-out work commences on the trade counter and ancillary offices this week, with work scheduled to complete in March.

Magnet has relocated from nearby Meanwood Road and the purpose-built facility was designed to provide increased visibility, a more efficient working environment and an enhanced customer experience whilst staying within the locality to retain both staff and trade customers.

The investment into the new facility has made a significant contribution to the regeneration of the northern edge of Leeds City Centre, maximising the site’s prominence on the busy intersection.

Andy Cartlidge, Head of Group Property and Store Development, at Magnet commented; “We are delighted with the new facility and the showroom has traded exceptionally well since its Boxing Day opening. It was key to our business that we retain our loyal staff and customers, so to have secured such a prominent site so close to our former premises for the bespoke new facility was ideal. We are looking forward to the fit-out of the trade counter and offices elements completing in the next few weeks and are hoping to recruit throughout the year in line with expected business growth.”

John Lund, Chairman of Prospect Estates, said; “This modern design scheme has not only provided Magnet with an outstanding new facility, it has made an important contribution to the ongoing regeneration of Leeds’ strategic gateway sites. The property sector is really gathering momentum and looking ahead to the rest of the year, we are now actively seeking to expand our national commercial portfolio through the acquisition of key sites across the UK.”