Carlsberg UK has taken Thorpe Gate’s Blue Steel warehouse in Leeds at a rent of around £4.95 per sq ft.
The brewer has taken the 155,000 sq ft former Poundstretcher warehouse, which has had its cladding, flooring and offices refurbished and its eaves raised from 5m to 8m.
The rent at the top end of the scale for distribution property in the area reflects the lack of available space around Leeds.
The building which is on Pontefract Lane in Cross Green is on the route of the long-awaited East Leeds Link Road, which is expected to get the go-ahead later this year.
The road will provide a high capacity link from junction 45 of the M1 to the Aire valley south east of Leeds, unlocking commercial development in a vast swathe of former industrial land.
Mike Haigh, partner at Knight Frank in Leeds, said, “It is in effect a new building and Blue Steel has realised a strong rent.
“It’s one of the largest speculatively developed units that has been let before completion in Leeds.”
The building is due to complete in October this year.
Thorpe Gate was advised by Knight Frank. Carlsberg UK was advised by Gerald Eve’s Birmingham office.
References: EGi News 27/07/05
