Situated just minutes from Leeds city centre, the Leeds City Region Enterprise Zone
is a prime location within the UK for business investment and expansion. With great access to the national motorway network via junction 45 of the M1, and a development pipeline totalling 4 million sq ft of purpose-built industrial, distribution and office premises, it is the ideal location for modern manufacturing and related supply chain businesses.
A package of incentives are available to companies locating and investing in the Enterprise Zone, including reduced business rates worth up to £275,000 over a five year period, simplified planning and a bespoke package of business support. Grants of up to £500,000 are also available through the Leeds City Region Business Growth Programme
to support relocation, premises fit outs and investment in capital equipment and machinery.Companies locating in the enterprise zone at the Temple Green or Logic Leeds sites and making significant investments in plant or machinery can qualify for enhanced capital allowances, depending on tax and business status.
The Enterprise Zone covers 142 hectares of development land, across four sites: Newmarket Lane, where work is currently underway on Veolia’s £150 million recycling and energy recovery facility; Thornes Farm, which is being built out by private sector developers as a number of separate sites; Logic Leeds, which has planning permission for 1.6 million sq ft of employment space; and Temple Green, the largest of the four sites with planning permission for over 3 million sq ft of employment space.
At Thornes Farm, Wilton Developments is spec building two new industrial units of 50,000 sq ft and 30,000 sq ft on its Connex 45 site. The purpose built units are scheduled for completion in July 2015. CPD Ltd has also started work on a new 50,000 sq ft warehouse and operations centre for Samuel Grant Group Ltd and has agreed a deal with another end user to build a second 30,000 sq ft unit. A third 20,000 sq ft unit will be built speculatively.
Muse Developments has also started work on the first phase of development at Logic Leeds
. The first 80,000 sq ft industrial unit is scheduled for completion in August 2015. The £5m development is the largest speculative development of its kind in West Yorkshire since the recession. Further phases of development will be able to accommodate buildings up to 250,000 sq ft.
A £7.5m programme of infrastructure and groundwork is in progress at Temple Green, which is being developed by Aire Valley Land, a joint development between Evans Property Group and Keyland. The programme includes: a 1000-space park and ride facility; development plots for motor dealerships and petrol filling station with ancillary retail; and a new spine road to open up access to further phases of development able to accommodate up to 500,000 sq ft of employment space and support around 700 jobs.
Work to develop the Enterprise Zone is being supported by £8.57 million funding from the government’s Building Foundations for Growth programme.