56,000 sq ft double deal at Logic Leeds

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Muse Developments has pre-sold two further units, totalling 56,000 sq ft, at its flagship industrial development, Logic Leeds.

Phoenix Investment Management has bought a 25,000 sq ft unit, as part of its growing investment portfolio, with wholesale supplier of luxury hospitality textiles, Pegasus World, taking an adjacent unit of 31,000 sq ft. Both units were purchased for undisclosed sums.

Construction of the two state-of-the-art buildings will begin imminently, with Shipley-based, Stainforth Construction appointed as their main contractor.

These latest deals follow closely in the footsteps of the completion of Premier Farnell’s 362,000 sq ft unit, along with a second 361,000 sq ft currently nearing completion, which has been pre-let to a high-profile global occupier. Both units have been forward funded by Aberdeen Standard Investments in deals worth in excess of £100m.

Two plots remain at Logic Leeds, totalling 100,000 sq ft, with strong interest in both units. Carter Towler and Knight Frank are joint agents.

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