MCM Group is delighted to announce that Unit 12, a 38,000 sq. ft warehouse at Felnex Road off Pontefract Lane, Leeds, is to be redeveloped creating a new high specification, industrial property suitable for use as a storage and distribution facility or trade counter.
Planning permission has just been granted for the building to be completely stripped back to its frame and reformatted. In order to maximise the 1.68-acre site, the footprint of the original property will be reduced to 28,537 sq. ft which in turn will provide additional yard space and parking areas.
North East-based property investment company MCM Group, which acquired the site earlier this year, has been working with Carter Towler’s Industrial Agency team and S&SA Architects designing a redevelopment scheme that would maximise the potential of the existing building and land.
Commenting on the scheme, MCM Group’s Investment Director Douglas Cranston said: “We are really excited to see this project get underway and complete an extensive refurbishment that will future proof such a well-located asset. The initial demolition work has now started on site and Walter Thompson Contractors will commence the rebuild. We are aiming for the new property to be ready for occupation early in the New Year.
“We are keen to expand our property portfolio and were particularly interested in investing in Cross Green. This area just to the east of Leeds city centre is flourishing with leading businesses including Amazon, DHL, CEF, Euro Car Parts, Premier Farnell, Fedex, John Lewis, Symingtons and BCA but there is a marked shortage of medium-sized industrial properties which we hope to help address.”
Carter Towler’s Industrial Agency Director Josh Holmes added: “While we have been advising MCM Group on the reformatting and marketing of the site we have received a number of very promising enquiries from potential occupants. We are confident given the high-quality refurbishment being undertaken and roadside prominence of the site that we will secure an occupier before it’s completed in January.”
Felnex Road is located directly off the A63 close to junction 45 of the M1 and just 1 mile east of Leeds city centre.
Tom Goode and Iain McPhail at Knight Frank in Leeds have been appointed as joint marketing agents.
Tom Goode said: “Felnex Road will provide some much-needed high quality stock to address the current supply and demand imbalance in West Yorkshire. Located between J45 of the M1 and Leeds city centre, the building occupies a prime and prominent position fronting Pontefract Lane and will appeal to both trade counter and logistics occupiers alike”.