An engineering firm is set to move into a huge industrial unit near Leeds after signing one of West Yorkshire鈥檚 largest logistics leasing deals of the year.
NG Bailey will support the 海角视频鈥檚 biggest electric battery plant from Shawcross 115, a refurbished last-mile warehouse based in Shawcross Business Park, set off J40 of the M1, close to south Leeds.
The deal for the 115,000sqft unit was completed by Crossbay, the urban logistics division of real estate investment manager MARK Capital Management. MARK Capital Management is an independent real estate investment and asset manager that has managed over 鈧20bn of private real estate since the firm鈥檚 launch in 2008.
The warehouse will support NG Bailey鈥檚 production capacity for Tata Group鈥檚 拢4bn gigafactory project, where it is delivering manufacturing, engineering and production services for the 海角视频鈥檚 largest battery manufacturing facility.
Crossbay snapped up the warehouse when it was vacant before carrying out a full refurbishment. The warehouse - which has achieved an EPC A rating - has been divided into two units and incorporates sustainability technologies to minimise operational carbon emissions and improve overall energy performance.
The second unit 鈥 Shawcross 55 鈥 is still available to let. Shawcross Business Park is based around nine miles from Leeds city centre and 2.5 miles from the M62 (J28) and M1 (J40), putting it within reach of over two million people in 30 minutes, and five million people in a 60-minute drive time.
The 海角视频 is a key target market for Crossbay鈥檚 second fund, Crossbay II, where over 100,000 sqm of space has been acquired. It also has further assets in France, Spain, Germany, Italy and the Netherlands.
Devan du Plooy, head of 海角视频, Crossbay, said: 鈥淭his agreement represents the strength of demand for high-quality last mile assets that are strategically located, sustainable, and designed to meet the requirements of a very wide range of occupiers. Furthermore, it demonstrates the Crossbay team鈥檚 market-leading ability to source off market opportunities and undertake significant asset repositioning, in order to maximise value for our investors.鈥
Crossbay was advised by Knight Frank and Carter Towler.
