The property company Frank Marshall Estates has bought a prime development site at the Gildersome Spur development in south Leeds for £1.2 million.
The company has bought the four-acre site by the M621 and Junction 27 of the M62 from fellow developers Marshall CDP of Elland.
Edward Marshall, director of Bradford-based Frank Marshall Estates, said he aimed to create one of the most vibrant and successful multi-let industrial parks in the area.
He said the development would comprise 60,000 sq ft of industrial and office space and an eight-unit, 13,840 sq ft Nano Park, featuring workshop and office space.
He added: “This is a fantastic opportunity to create much-needed employment and business space for the Gildersome and south Leeds area. We estimate that the park, once it is fully developed out, will maintain 200 hundred new and sustainable jobs, providing a substantial boost to the area’s economy.”
Frank Marshall Estates bought the land from Marshall CDP in an off-market deal.
Mr Marshall commented: “We have the utmost admiration for our namesakes. They are probably the most forward-thinking and successful property development company in
Yorkshire. They set a gold standard for development and we have enjoyed working with them to get this exciting deal over the line.
“This is a really great opportunity for us, being one of the prime sites in West Yorkshire and we are very grateful to Marshall CDP. We look forward to working with them again in the future.
“The location, so close to the M621 and the M62 with access to Yorkshire’s superb motorway network, is excellent. The M62 corridor in West Yorkshire is now widely regarded as an industrial property hotspot.
“At the same time, south Leeds is a well-established commercial centre with a large, skilled labour force. We are very excited about this project and can’t wait to get started.
“We have a proven record of developing successful business parks and Nano Parks in West Yorkshire and this gives us the confidence and the belief that we can attract quality occupiers to this site,” he added.
Frank Marshall Estates has already built a fully-let 12,100 sq ft Nano Park next to its headquarters at Newhall in Bradford, with new Nano Parks currently being developed in Armley and Wakefield.
The Nano Park aims to provide a base for small and fledgling companies and satellite operations for larger firms.
Mr Marshall explained: “The success of our Nano Park in Bradford, which is completely full, has encouraged us to repeat the model elsewhere in Yorkshire.”
Simon Marshall of Marshall CDP commented: “We are delighted that Frank Marshall Estates have bought the land and expect their proposed development will be well received by the
local occupational market.”
Edward Marshall added: “We will now be working closely with Leeds City Council over planning and, all being well, we hope to start on site early next year. Watch this space. This is going to be a development of which Gildersome and south Leeds will be really proud.”
Advice for this transaction was provided by Ian Greenwood of property agents Carter Towler and Darren Birkinshaw of law firm Schofield Sweeney.
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