Caddick Developments are delighted to have won the award ‘Best Investment Deal’ for their Leeds Valley Park forward funding deal with JLL at Yorkshire Children’s Charity – Commercial Real Estate Awards.
JLL advised Caddick Developments on the forward funding of Leeds Valley Park, an exemplar scheme which comprises six prime urban logistics units ranging between 25,000 and 70,000 sq ft. Situated at Leeds’ premier industrial and distribution location with unrivalled motorway connections to the M1, M621 and nearby to junctions with the M62 and A1(M), the development, which is due for completion in late 2023, will comprise 300,000 sq ft of accommodation across six buildings on a total site area of circa 25 acres.
Providing a welcome economic boost to the local area, Leeds Valley Park will support over 300 jobs during construction, with an additional 500 jobs created when the units are occupied. The mid-box scheme will be EPC A-rated, and benefits from being situated between Junction 44 of the M1 and Junction 7 of the M621.
The development is market-leading and highly anticipated in the Yorkshire & Humberside urban logistics market, set to service demand for much-needed space in a ‘grade A’ location, just 15minutes from the City Centre. It is widely expected to set benchmark rental levels and offers an attractive proposition for occupiers looking to prioritise sustainability and future-proof, given its environmental, social and governance (ESG) credentials. By design, the development highlights will include: BREEAM ‘Very Good’ status, EPC A rating target, PV ready, EV charging points and Cycle provision.
This was a complex transaction that required the input of a number of cross-discipline teams from both vendor and funders including Agency, Building Surveying, Construction, Legal and Planning & Development teams.