UBS AM Real Estate & Private Markets has completed two lettings totalling more than 60,500 sq ft at Velocity Point logistics park in Leeds.
Garage door company Garolla has signed for the 33,500 sq ft Unit 9 and window and door hardware supplier Total Hardware has taken the 27,000 sq ft Unit 6.
The park is set across 13 acres and comprises nine units ranging from 3,500 sq ft to 108,500 sq ft split across five buildings.
Jonny Ufton, investment manager at UBS AM REPM, said: “Velocity Point, which is set against the Leeds-Liverpool Canal, offers occupiers a high quality working environment with vast green spaces and has been designed to promote a positive work life balance by putting people at its heart. The development is built to the highest standard with future-thinking design firmly focused on sustainability, with renewable and environmentally responsible features being integral to the scheme.
“It’s a real draw for businesses of all sizes from those looking to integrate their operations into national and international supply chains to companies seeking strong links to academia excellence and places occupiers in a prime position for growth.”
Dani Raunjak, associate director at CBRE Leeds, joint agent at Velocity Point, added: “The deals secured on seven out of nine units within a few months of completion at Velocity Point demonstrates the appeal of well positioned, quality stock in a supply constrained Northern logistics market. Carter Towler, Savills and our team have received considerable interest in the remaining units and look forward to achieving full occupation soon.”
Rob Oliver, principal at Avison Young, who advised Garolla on the letting, said: “We have undertaken several acquisitions across Yorkshire in recent months, with a number of further projects ongoing. We were delighted to work with Garolla on this matter, undertaking a thorough review and consideration of their options, and then securing a lease on this high quality new unit at Velocity Point.
“Availability of quality units across the region ready for immediate occupation is getting challenging, given the limited amount of current development. It is particularly pleasing to support a manufacturing business looking to upgrade and expand their operation.”
CBRE, Carter Towler and Savills are joint agents at Velocity Point.
