Acting on behalf of J Pullan & Sons Ltd, CBRE’s Leeds Industrial Agency team has pre-let a 60,000 sq ft distribution centre at Howley Park in Morley on a 25 year term to international parcel delivery company, DPD, who were represented by SBH.
The bespoke parcel distribution centre will be the first of its kind in Leeds and is being delivered as a result of a significant investment by Howley Park owners, Pullan’s. Work will commence on site this month with practical completion scheduled for early 2017. The unit is to be let on a new 25 year lease term at a rent of £9.50 per sq ft.
Howley Park Estate is a well-established business location situated between J27 and J28 of the M62 Motorway in Morley, Leeds, providing over 700,000 sq ft of warehouse/industrial and office accommodation on a 120 acre site. Existing occupiers include Asda, OTIS, Lavendon Group DSGi, Keyline Builders Merchants and Stax Trade Centres. On site amenities include an Asda superstore, restaurant, public house, petrol station and gym.
The final phases are now available for the development of bespoke warehouse/industrial units ranging in size from approximately 10,000 sq ft to 100,000 sq ft.
Mike Baugh, Senior Director of Industrial Agency at CBRE Leeds, said; “CBRE worked closely with J Pullan & Sons Ltd to secure this significant deal. It is fantastic news for Howley Park and the Morley area of Leeds, that DPD has selected this location to create its new distribution centre. The new facility will further strengthen the tenant mix at this very successful business location.”
Bruce Strachan, Property Director at Pullan’s, said; “Howley Park continues to be a popular destination due to its great connectivity and the on-site and local amenities that occupiers seek for their employees. We are delighted that DPD has signed a pre-let for their new distribution centre on a 25 year lease term, which clearly demonstrates their confidence in the location and we are looking forward to delivering the unit for occupation early next year.”
For DPD, the expansion follows a period of unprecedented growth in the UK, thanks largely to the success of its unique Predict service. Predict notifies customers of their one hour delivery slot in advance, so that they don’t have to wait in all day for a parcel.
Louise Ferguson, General Manager of Property at DPD commented; “Our new Leeds distribution centre will be a state-of-the-art, purpose-built facility that will allow us to expand our existing operation to meet our growing business needs and create a significant number of new jobs.”
