A 361,000 sq ft Yorkshire warehouse development will go ahead, following a funding deal.A 361,000 sq ft Yorkshire warehouse development will go ahead, following a funding deal.
Contracts have been exchanged for the forward-fund the Logic Leeds warehouse which has already been pre-let to an unnamed global occupier.
The scheme is the same size as many recent deals agreed by Amazon.
Aberdeen Standard Investments will forward fund the 361,000 sq ft distribution centre at Junction 45 of the M1.
James Scott, development director at Muse Developments, said: “The sales of the John Lewis Customer Distribution Hub to Axa and the Premier Farnell warehouse to Aberdeen Standard Investments has put Logic Leeds on the map and we look forward to further building on the scheme’s success with this brand-new distribution centre,” he explained.
Construction will begin in February 2019 with an anticipated build period of approximately 12 months.
Of Cushman and Wakefield North represented Aberdeen Standard Investments. Knight Frank advised Muse.
