Located in a Leeds City Council Enterprise Zone, the deal will retain £650m in revenue and jobs in the Yorkshire region. Logic Leeds, a Muse Developments scheme, is located off junction 45 of the M1 motorway. The site will initially stock over 420,000 products with potential to expand the site to up to one million sq ft of distribution capacity.
Construction of the state-of-the-art distribution warehouse will begin in February 2018 with completion scheduled for the end of the year. The site is expected to be operational by late 2019 / early 2020.
Scott Morrison, Associate in Cushman & Wakefield’s Logistics & Industrial Agency team, said: “We are delighted to have advised Premier Farnell on the acquisition of its new European distribution centre which is also great news for the wider region. The new facility has the space and specification to meet modern distribution requirements and ‘future-proofs’ Premier Farnell’s operations in Leeds.
“We’d like to thank Premier Farnell for the opportunity to assist them, Leeds City Council for its support in agreeing the deal, as well as Muse Developments, the landlord at Logic Leeds.”
Nick Wilkins, SVP – chief global supply chain officer, Premier Farnell, said: “We are delighted to be retaining our presence in Leeds, alongside retail giants such as Amazon and John Lewis. The Logic Leeds development provides significant opportunities for Premier Farnell in terms of location and green credentials, whilst allowing us to maintain our long relationship with the Yorkshire region.”
Carter Towler and Knight Frank acted for Muse Developments.