Member Article

Go ahead given for more industrial space at Logic Leeds

Leeds City Council has given the green light for the build of three new industrial units in the city’s Region Enterprise Zone, Logic Leeds.

Construction of the units, totalling 100,000 sq ft, will shortly begin with urban renewal outfit Muse Developments leading the project.

This is the second land deal that Leeds City Council has concluded at the 110-acre Logic Leeds, having bought an 80,840 sq ft distribution warehouse with offices last year.

James Scott, development director with national developer and regeneration specialist, Muse, explained: “The signing of the sale agreement between ourselves and Leeds City Council, combined with the granting of planning permission, is a significant step forward towards delivering more quality industrial space at Logic Leeds.

“The sale itself is both a resounding endorsement of the qualities of our development at Logic Leeds and a sound investment for the council.

“It meets all the city council’s investment criteria, as the three industrial units will provide a strong rental income stream in the years to come.

“There is a massive pent-up demand in West Yorkshire for units of this size, while their location, at the heart of Yorkshire’s superb motorway network and within the enterprise zone, makes them especially attractive.

“So the fundamentals for success are already in place. At the same time this sale will also enable us to open up and invest in the rest of Logic Leeds to create new jobs for the city and boost the regional economy. We are grateful for the tremendous support of Leeds City Council, who have recognised the potential of Logic Leeds from the very start.”

“We are already proud to have two household names like Amazon and John Lewis at Logic Leeds, proving that West Yorkshire, with its excellent transport links and skilled workforce, is attractive to successful national retailers,” he added. “The enterprise zone incentives at Logic Leeds are also an integral part of its popularity.”

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.

Leeds City Council executive member for regeneration, transport and planning Councillor Richard Lewis said: “By investing in high quality properties which generate a good return for the Council, we can continue to deliver much needed services for residents across the city.

“The council has worked hard with developers within the Leeds City Region Enterprise Zone to help make it a location of choice for new businesses to the area and companies within the city seeking growth opportunities.

“These units will provide further scope for job creation whilst further cementing the enterprise zone as a strategic location within the city for economic growth,” said Coun Lewis.