Flagship Leeds development gets go-ahead
Logic Leeds, Muse Developments’ flagship 110-acre manufacturing and distribution development in the Leeds City Region Enterprise Zone, has received planning approval from Leeds City Council.
Following planning approval and the signing of a landmark £2.5m grant agreement with Leeds City Council, funded through the government’s Building Foundations for Growth programme, construction of a speculative 80,000 sq ft industrial unit at Logic Leeds will begin.
This building, which will include 4,000 sq ft of offices and 100 car parking spaces, is the largest of its kind to be speculatively developed in West Yorkshire since the recession.
Situated next to the A63, just half a mile from Junction 45 of the M1 and minutes from Leeds city centre, Logic Leeds presents a huge opportunity for the Leeds and wider Yorkshire industrial and distribution market.
David Wells, development director of Muse, explained: “Now that full planning approval has been granted by Leeds City Council, our Logic Leeds development can start in earnest. The main construction contract is now out to tender and we anticipate starting work on site in November this year, with completion next summer.
“Planning approval, combined with the £2.5 million grant from the Department for Communities and Local Government which will fund the infrastructure to prepare a 5 acre site, gives the green light to our speculative development of the 80,000 sq ft unit,” he added. “We are tremendously grateful to Leeds City Council for their support.”
Logic Leeds is part of the Leeds City Region Enterprise Zone, which means that it benefits from a range of incentives for occupiers. These incentives include a discount on business rates, worth up to £275,000 per business over a five-year period; a simplified and accelerated planning process; an opportunity for enhanced capital allowance claims; and high-speed fibre-optic broadband.
Mr Wells said: “These incentives make a real difference. Logic Leeds has always been viable, but we need to encourage occupiers to come here. As space dries up around the M1 and the M62, and coupled with this support from Leeds City Council, our development looks a very attractive option.”
Mr Wells commented: “Logic Leeds is one of the most exciting developments to be undertaken in Leeds for many years. The 80,000 sq ft unit, which features four docks, two-level access doors and a large yard, is the largest speculative building of its kind to be developed in West Yorkshire since the recession.”