DPD has secured a 25-year lease for the construction of a new 60,000ft2 parcel distribution center in Morley, Leeds. The contract was agreed with real-estate firm CBRE, acting on behalf of the business park’s owner J Pullan & Sons.
The bespoke parcel distribution center will be the first of its kind in Leeds and is scheduled for completion in early 2017. It has been let at a rate of £9.50 per square foot per annum for the 25-year term.
Louise Ferguson, general manager of property at DPD, said, “Our new Leeds distribution center 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.”
Mike Baugh, senior director of industrial agency at CBRE, said, “CBRE worked closely with Pullan 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 center. The new facility will further strengthen the tenant mix at this very successful business location.”
Bruce Strachan, property director at Pullan, 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 center 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.”
June 9, 2016