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Momentum building on City Region's Enterprise Zones

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05 Apr 2016

Momentum is continuing to build for the Leeds City Region Enterprise Zones since the autumn budget. The City Region now has 10 new sites with Enterprise Zone status, and plans are moving forward for the delivery of all these sites, in order to build upon the success of the current Enterprise Zone in Leeds.

The original Leeds City Region Enterprise Zone has seen momentum over the last 12 months continue to grow since Logic Leeds secured the letting of its second building to the John Lewis Partnership, with continued interest from investors, developers and occupiers in all areas of the Zone. The Zone’s largest site, has also been making headlines recently, with Keyland announcing it had sold its 50% stake in the site to Harworth Estates, who are now 50:50 partners in the development with Evans Property Group. Ground works for the first phase of the site are due to complete in the coming month ahead of Leeds City Council’s work on the new Park and Ride scheme.

Alongside this Wilton Developments has recently secured the letting of the final unit on its £5 million speculative development at Thornes Farm to Perspex Distribution Ltd. The 30,225 sq ft unit is adjacent to Connex 45, which was leased to FedEx last year, further bolstering the areas credentials as a logistics hub. The developer is now looking to continue its success and has submitted a planning application for an 83,000 sq ft industrial development at Newmarket Lane, neighbouring the new Veolia site.

Now with two further Enterprise Zones (EZ), M62 Corridor Enterprise Zone and the York Central Enterprise Zone in addition to one of the largest and most evolved Zones in the UK, there is a real opportunity through the EZs to deliver the Leeds City Region Enterprise Partnership’s economic ambitions.