Finish line close for £31m Leeds industrial
Nine units of up to 108,500 sq ft at Velocity Point, a 13-acre site formerly occupied by Premier Farnell, are on schedule for completion in November.
Carter Towler, CBRE and Savills are joint agents on the site, which is being developed by Tungsten Properties. MCS is the main contractor.
UBS Asset Management’s real estate & private markets business is forward-funding the Armley Road project on behalf of its core UK diversified vehicle, Triton Property Fund.
Hazel Cooper, surveyor at Carter Towler, said: “It’s exciting to see this much needed new industrial park taking shape. Tungsten Properties and MCS Construction Group are making great progress, the external structures have been completed and are now having their internal features installed.
“We are already receiving a lot of interest from potential occupiers and have placed 8,000 sq ft under offer, to an exciting business who are keen to take advantage of the great location and superb ESG provisions.”
Matt Ewin, associate director at Savills, added: “This is a true urban logistics location, positioned just on the edge of the city centre it provides lots of opportunities for strategic links with the universities, hospitals, retail sectors and last mile logistics operators, as well as being close to major arterial roads and the motorway network.”
The nine units range from 3,500 sq ft to 108,500 sq ft, with a BREEAM Excellent rating targeted.