Planning submitted for Leeds City Region Enterprise Zone Development
22 Jan 2016
Wilton Developments has submitted a planning application to Leeds City Council for an 83,000 sq ft industrial development on Newmarket Lane, in the heart of the Leeds City Region Enterprise Zone.
The £6 million development known as Kinetic 45 would take place on a 4.5 acre site adjacent to Wilton’s successful Connex 45 scheme. This was the first speculative development in the Enterprise Zone comprising two developments of 50,000 and 30,000 sq ft, the former of which is now fully let to FedEx, with the latter under offer.
Wilton Developments contracted to purchase the strategic site form Leeds City Council in December 2015 and Kinetic 45 has been masterplanned to accommodate a standalone 60,000 sq ft industrial unit with quality office accommodation, as well as two smaller units of 11,000 sq ft and 12,000 sq ft which has the flexibility to be combined to meet occupier requirements.
Jason Stowe, Managing Director of Wilton Developments said: “Following the success of our £5million investment into Connex 45, we are committed to continuing to work with Leeds City Council and the LEP on the delivery of this Enterprise Zone.
“The Kinetic 45 site presents an excellent opportunity to address the current shortfall in available industrial accommodation in the region. It will offer occupiers the same EZ incentives and we will have the ability to ensure that this new investment can be delivered by a Yorkshire based team to ensure that the investment stays in the region, boosting the economy and creating local jobs.”
Roger Marsh OBE, Chair of Leeds City Region Enterprise Partnership commented (the LEP): “Over the last 12 months Leeds City Region Enterprise Zone has gone from strength to strength and there is a real demand for space from potential occupiers. As such I’m delighted that following the success of Connex 45, Wilton is now looking towards its next development on the Enterprise Zone, Kinetic 45.”
Wilton Developments has appointed CBRE’s Leeds Industrial Agency team as sole agent on Kinetic 45. Mike Baugh, Senior Director of Industrial Agency at CBRE, commented: “Wilton have an established track record both across the region and specifically within the Enterprise Zone. With such a chronic shortage of quality industrial units, this site can deliver much-needed space in one of the most strategic locations in the north.
“Following our success in attracting excellent interest in Connex 45, we are confident that Wilton’s latest offer will generate similar activity. The unit sizes will appeal to a broad range of occupiers and we are already speaking to a number of companies who have expressed interest in this opportunity.”
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. It is already home to well-established manufacturers such as packaging company, Roberts Mart, floor covering specialist, Mercardo and Symington’s food and FedEx.