Member Article

Leeds secures £8.75 million central government funding for Aire Valley developments

Leeds Enterprise Zone has accelerated the first phase of major development on three key employment sites within the Aire Valley after securing a £8.57 million grant from central government.

The grant secured by Leeds City Council will pave the way for work to begin on site at Thornes Farm, Logic Leeds and Temple Green.

The funding means a start can be made on engineering work, ground remediation, road infrastructure and building the first of a series of modern industrial units to attract manufacturing companies into the enterprise zone, situated in the heart of Leeds City Region.

Wilton Developments will begin developing two industrial units of 30,000 sq ft and 50,000 sq ft in October on its four acre Connex 45 site at Thornes Farm, to be completed and ready for occupation in spring 2015.

At Logic Leeds, Muse Developments has planning permission for 1.6 million sq ft of industrial, distribution premises and supporting uses, including offices and hotel development.

Temple Green, the largest of the development sites in the enterprise zone, has planning consent for over 2.2 million sq ft of development covering a range of uses including large scale manufacturing, distribution and high quality offices.

Aire Valley Land, a partnership between Evans Property Group and Keyland Development, has been established to develop the site.

Funded through the Government’s ‘Building Foundations for Growth’ programme, the work will get underway this autumn and is being underwritten by Leeds City Council, which has agreed to share development risk and take ownership of the new units should they remain unlet for more than 12 months after completion.

The council will also work with Leeds City Region Enterprise Partnership (LEP) and private sector partners to showcase this prime business location to potential business investors.

Roger Marsh, chair of the LEP said: “The Enterprise Zone has huge growth potential and is a key part of the LEPs wider economic plan.

“I am delighted this additional funding has been secured, which will complement the investment the LEP is also making in the Enterprise Zone, and welcome the strong partnership working between the LEP, Leeds City Council and the private sector to deliver new investment and jobs.

“Assisted Areas status has recently been confirmed for certain areas of Leeds City Region, including the Enterprise Zone, which will enable more businesses to access greater public sector support and enable us to attract the very best talent and high quality businesses both nationally and internationally.”

Cllr Richard Lewis, Leeds City Council’s executive member for transport and the economy said: “There’s no doubt that the Enterprise Zone offers unparalleled advantages in terms of scale, transport infrastructure, its proximity to Leeds city centre and to one of the UK’s biggest concentrations of manufacturing.

“That’s why the council has taken this proactive approach to secure funding and underwrite the developments to build on the momentum already achieved.

“Accelerating development at key locations in the zone will, in turn, stimulate and attract further investment, growth and jobs.”

This was posted in Bdaily's Members' News section by Clare Burnett .