Major deal secured on Leeds City Region Enterprise Zone development

Wilton Developments has secured a tenant for Connex 30, part of its £5m speculative development at Thornes Farm in the Leeds City Region Enterprise Zone.

Perspex Distribution Ltd has taken a 10 year lease for the entire 30,225 sq ft industrial/distribution unit, with ancillary office space, at £5.75 per sq ft.

Situated on a four acre site close to the East Leeds Link Road, in the centre of the Leeds Aire Valley Corridor, Connex 30 is part of the Connex 45 development where the adjacent 50,000 sq ft unit which was let to FedEx last year.

Jason Stowe from Wilton Developments said: “The first Connex Unit was let prior to completion at a strong rental level. This swift letting of the sister building reinforces Leeds City Council’s confidence that by delivering good quality speculative buildings in this location will attract strong occupier interest.”

Councillor Richard Lewis, Leeds City Council’s executive member for regeneration, transport and planning, added:€ “It is fantastic that yet another new business has chosen to locate to the Leeds City Region Enterprise Zone, proving once again that the site is extremely well placed to attract new and growing businesses. This will create new jobs for Leeds and help us to continue our work with businesses to create a compassionate city with a strong economy.”

Roger Marsh OBE, chair of Leeds City Region Enterprise Partnership (the LEP), also commented: “Over the last year, since it was named as one of the City Region’s Big Six investment opportunities, Leeds City Region Enterprise Zone has gone from strength to strength. I’m delighted that Perspex Distribution Ltd is joining a long list of businesses that are calling the Leeds City Region Enterprise Zone home and capitalising upon the opportunities it offers. Businesses locating there not only benefit from a range of incentives but also get access to the City Region’s talented workforce and the national motorway network.”

Wilton Developments will be bringing forward a further 83,000 sq ft in its Kinetic 45 development also within the Enterprise Zone later this year.

CBRE, Colliers and Langleys Solicitors acted for Wilton Developments.

Jacques Esterhuizen of CBRE concluded: “As a result of strengthening demand and falling supply, the Leeds and West Yorkshire market has finally moved into the developers’ favour.

“In particular, Leeds has a shortage across all size ranges with limited good quality options available. The Connex scheme is testament to this and the lettings to FedEx and Perspex have reinforced Wilton’s decision to speculatively build these units.”

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