- Final 60,949 sq ft letting brings 304,000 sq ft scheme to full occupancy
- Leasing programme achieves record rents up to £10.25 per sq ft for mid-box industrial units in West Yorkshire
Catella APAM, the UK-focused real estate asset and investment manager, has achieved full occupancy at Leeds Valley Park on behalf of Greater Manchester Pension Fund (GMPF).
Acting as asset manager for the scheme, Catella APAM was appointed to lead the leasing strategy following practical completion in November 2023. Working alongside leasing agents CBRE, Avison Young and Carter Towler, the team implemented a targeted occupier strategy focused on attracting a diverse mix of businesses that would maximise the long-term performance of the asset.
The final transaction sees Unit 5, a 60,949 sq ft warehouse and manufacturing facility, let, concluding a successful leasing programme that has seen Catella APAM deliver six lettings across the estate since practical completion. The site is now home to a diverse mix of occupiers, including Wayfair, DIRICKX Systems, Ulrick+Short and Decco, reflecting the scheme’s appeal to a broad range of businesses and sectors.
The programme has achieved rents up to a record £10.25 per sq ft for a mid-box industrial unit in West Yorkshire, setting a new headline mid-box rent for the region.
This strong rental performance reflects continued occupier demand for modern, high-quality industrial space across West Yorkshire, where supply remains constrained. Leeds Valley Park has attracted strong interest throughout the campaign thanks to its direct access to the M621 and M1 motorways, high-quality specification, BREEAM Very Good rating and flexibility for businesses seeking to expand while retaining access to the Leeds labour market.
Adam Handley, Senior Asset Manager at Catella APAM, commented:
“The quality and diversity of the occupiers we’ve secured at Leeds Valley Park is a real endorsement of both the scheme and our leasing strategy. Attracting organisations from sectors including healthcare, e-commerce, manufacturing, food production and utilities demonstrates the appeal of well-located, high-quality industrial space and has enabled us to deliver a strong long-term income profile for our client.”
Danielle Raunjak, Director at CBRE Leeds, commented:
“Leeds Valley Park is a fantastic showcase of GMPF’s commitment to investing in prime Yorkshire real estate, and this result demonstrates exactly why that conviction was well placed. Strategically located, Grade A mid-box supply in West Yorkshire is genuinely constrained, and schemes of this quality and connectivity consistently attract strong occupier demand. Achieving record rents is a direct reflection of those market dynamics. This has been a true team effort across the advising landlord agents, and we are proud of the performance we have collectively delivered for the client.”