Technology distributor Premier Farnell is to invest £60m in a new 360,000 sq foot warehouse at the Logic Leeds business park
Construction of the distribution warehouse at the flagship site will begin in February and is scheduled to complete by the end of the year.
Premier Farnell, which is relocating from a distribution unit at Armley in Leeds, will take a 20-year lease on the building.
The main contractor is Sheffield-based Bowmer and Kirkland.
James Scott, development director with national developer and regeneration specialist Muse, commented: “This is fantastic news and another significant milestone in the Logic Leeds story.
“The decision by Premier Farnell, a worldwide player in the electronics distribution industry, to come to Logic Leeds is a testament to the qualities of our development.
Mr Scott added: “Our pioneering manufacturing and distribution development benefits from a number of incentives for occupiers because it is part of Leeds City Region Enterprise Zone.
“These incentives, plus Logic Leeds’s unrivalled location just half-a-mile from Junction 45 of the M1 and within one mile of Leeds city centre, makes this development a very attractive proposition for occupiers.”
Nick Wilkins, chief global supply chain officer at Premier Farnell, said: “We are delighted to be retaining our presence in Leeds, alongside retail giants such as Amazon and John Lewis.
“The Logic Leeds development provides significant opportunities for Premier Farnell in terms of location and green credentials, whilst allowing us to maintain our long relationship with the Yorkshire region.”
The letting to Premier Farnell shortly follows the sale of three units, comprising 100,000 sq ft, by Muse to Leeds city council for an undisclosed sum. The units are currently under construction and will be ready for occupation in late spring this year.
Cllr Richard Lewis, Leeds City Council executive member for regeneration, transport and planning, added: “It is great news that Premier Farnell is remaining in Leeds, protecting hundreds of jobs that could otherwise have been lost from the city.
“The Council has worked hard with the West Yorkshire Combined Authority to retain the company in the city, and are pleased that they have decided to make such a substantial investment giving a strong platform from which to grow their business moving forward.”