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News Release

Leeds

Trio of deals at Leeds Industrial Estate

Nearly 57,000 sq ft taken at Overland Park


Leeds, 18 December 2013 – Three new tenants have agreed to lease nearly
57,000 sq ft of warehouse space at the Overland Park in West Yorkshire, leaving just three vacant units available on the estate, following deals brokered by Leeds based property agents Jones Lang LaSalle and Carter Towler. 

 
Discount retailer JTF Wholesale Limited has agreed to take 39,000 sq ft at Unit 14, on a 15 year lease Autoglass has taken Unit 12, totalling 13,885 sq ft, on ten year lease whilst Bike Gear have taken 3,650 sq ft also on a 10 year lease from landlord CBRE Global Investors.

 
The estate is fund managed on behalf of Electricity Supply Nominees by CBRE Global Investors, Senior Director at CBRE Global Investors, Rob Trevor, said: “We are delighted to welcome three new tenants to Overland Park. JTF, Autoglass and Bike Gear are national operators and their endorsement of the estate reflects the high quality redevelopment that was undertaken, the prominence to Gildersome Road and proximity to the M62.  We are seeing void levels drop across our portfolio; we are now under offer for another unit at Overland and expect the last three units to be let in the near future.”


Josh Holmes, Industrial agent at Carter Towler, added: “We are very pleased to have introduced JTF, Autoglass and Bike Gear to Overland Park who have joined an already impressive group of tenants in selecting Overland as home for their Leeds operations.”


Paul McClenaghan, CEO JTF Wholesale Limited, who has taken 39,000 sq ft at Unit 14, commented: “When looking for a new location in Leeds we had certain none negotiable requirements; the prominence, quality and location of the unit were key and Overland Park ticked all the boxes. We opened for business on the 22nd November and are very excited for our future at Overland Park.”


Overland Park which is adjacent to Junction 27 of the M62 and has extensive frontage to the main A62 Gelderd Road is situated on an 8.72 acre site providing a total of 13 industrial/warehouse units.  Ten of the units are now occupied by a variety of tenants including Fusion Provida, Doherty Chimney Group and Green Oval.

Lauren O’Toole, Surveyor at Jones Lang LaSalle, concluded: “These lettings, secured in quick succession to three high quality tenants, demonstrate that there is on-going demand for competitively priced, good quality warehouse space in prominent locations.


“Recent economic indicators suggest the UK economy is gaining momentum with output increasing and business confidence rising and we certainly seeing this reflected in the regional industrial property market”