PLP SEES THE LOGIC IN BUYING 43-ACRE GATEWAY 45 SITE IN LEEDS

February 13, 2020

 

Property consultancy firm, Gent Visick has advised on a major corporate deal which is expected to create thousands of jobs in Yorkshire.

Working on behalf of Aire Valley Land – a joint venture between Harworth Group and Evans Property Group – the firm negotiated the sale of a 43-acre plot at Gateway 45 in Leeds to PLP UK Logistics Venture (UKLV).

Up to 855,000 sq ft of industrial and distribution space can be accommodated on the site, which has been given planning consent and has also been designated as a government-backed enterprise zone. Work will start on the development this year.

Gateway 45 is located next to Junction 45 of the M1 and extends to 166 acres, with outline planning consent for 2.64 million sq ft of commercial space. The PLP UKLV deal follows three previous separate disposals totalling 55.5 acres, generating a total consideration of £30.3m.

Gent Visick’s managing director, Rupert Visick, said: “Gateway 45 is a development of national significance that will create thousands of new jobs, and this latest deal is really positive news for Leeds and the wider northern region as a whole.”

Previous sales at Gateway 45 included the University of Leeds’s purchase of a ten-acre fully-serviced commercial plot for its new Institute for High Speed Rail. HS2 Ltd has also reserved part of the site for a new Rolling Stock Depot to support the construction of Phase 2b of the line between Birmingham and Leeds.  A further 2.5 acres was sold to Leeds City Council last year for an extension to its existing park and ride facility. Following the latest sale to PLP UKLV there is approximately 100 acres of land remaining on the easily accessed employment site.