Muse Developments has completed a forward-funding deal for around £60m with Aberdeen Standard Investments for a Leeds distribution site, understood to be pre-let to Amazon.
Aberdeen Standard Investments will forward fund the 361,000 sq ft logistics and distribution centre at the Logic Leeds in what is the largest ever industrial deal in the city.
Logic Leeds is an industrial estate located outside Leeds city centre, next to the new East Leeds Link Road that connects the city to the M1 and the wider Yorkshire area.
James Scott, development director at Muse, said: “This forward-funding deal and letting is a resounding endorsement of our Logic Leeds development and confirms the demand in the Leeds region for top-quality industrial space.
“We have worked very closely with the tenant and ASI to deliver this pre-let development. Once operational, the building will represent one of the most advanced logistics buildings in the UK.”
Knight Frank acted for Muse; Tim Cameron Jones, investment partner and head of Cushman and Wakefield North, represented ASI.
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