Wilton Developments has secured planning permission for a new 83,000 sq ft commercial development on Newmarket Lane, in the heart of the Leeds City Region Enterprise Zone.
Kinetic 45, an £8million industrial and warehouse scheme, will be delivered speculatively as a standalone 60,000 sq ft industrial unit incorporating high quality office space and two smaller units of 11,000 and 12,000 sq ft, all of the buildings will have their own secure yards
Jason Stowe, managing director of Wilton Developments, said: “The Kinetic 45 development provides an exceptional opportunity to address the chronic shortfall in good quality, strategically located industrial accommodation in the region, benefitting as well from the Enterprise Zone incentives including Business Rates Relief.
“We intend to contract a Yorkshire based team to ensure that the investment into this development benefits the region, boosting the economy and creating local jobs.”
Councillor Judith Blake, the Leader of Leeds City Council, said: “Leeds City Council is pleased to have helped facilitate this investment at Kinetic 45 in the Leeds City Region Enterprise Zone through the sale of land to Wilton Developments. This scheme will create new jobs and further enhances the offer in the enterprise zone as well as its reputation as an attractive location for businesses to grow within the Leeds and wider regional economy.”
Roger Marsh OBE, Chair of Leeds City Region Enterprise Partnership (the LEP), said: “Today’s announcement about Kinetic 45 confirms Wilton’s confidence within the City Region as a location for investment and development. I’m sure that this new development will follow the trajectory of Wilton’s previous Enterprise Zone scheme, Connex 45 on Thornes Farm, which is now home to both Fed Ex and Perspex Distribution.
“By working in partnership with developers like Wilton Developments, the LEP and Leeds City Council are ensuring the Leeds City Region Enterprise Zone is one of the most attractive destinations for advanced manufacturing, distribution and e-fulfilment in the North of England, a fact that both the regional and national economies will benefit.”
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.
The Kinetic 45 development is close to Wilton’s successful Connex 45 scheme, which was the first speculative development in the Enterprise Zone and is now home to FedEx and Perspex Distribution Ltd.
Wilton Developments has appointed CBRE’s Leeds Industrial Agency team as sole agent on Kinetic 45.