The scheme, which was given planning permission in January, will be made up of 265,000 sq ft of industrial and commercial space in the Aire Valley area.
The 16-acre vacant site where its development is planned was sold by Keyland Developments Ltd, the property trading arm of utility company Kelda Group, to Ttotal Developments Ltd for an undisclosed sum.
Ryan Unsworth, Development Manager, said; “We are delighted to announce the sale of this site, which is one of the most strategically linked development opportunities in the region.
“The shortage of industrial accommodation across the Yorkshire is well-known and bringing forward this development will significantly help to manage the lack of available, new industrial space.
“To have completed the sale so soon after successfully securing the planning permission is an excellent result and has facilitated the delivery of a major regeneration scheme to contribute to the region’s economic prosperity.”
The site, which can be accessed off the A63 East Leeds Link Road Thornes Farm roundabout, is located off Pontefract Lane, between the existing Cross Green industrial Estate and Leeds City Region Aire Vallery Enterprise Zone.
Rupert Visick of Gent Visick, which marketed the site, said; “The level of interest received is indicative of the quality of this asset. Total Developments purchased the site on an unconditional basis against stiff competition which is testament to their faith in the location and belief in the strength of the market for mid-sized distribution boxes.”