Locate in Leeds - Property Availability & Cost
Manufacturing/Industrial
Leeds` excellent range of quality industrial property ranges from former textile mills to modern, purpose-built manufacturing facilities. Many industrial estates offer high-quality units featuring three-phase power, roller shutter doors, generous yard areas, high eaves and mezzanine floors, making them ideal for a range of operations such as engineering, warehousing, vehicle maintenance and packaging.
Major industrial estates are found across the Leeds Metropolitan District, with some of the largest concentrations found alongside the M62, M1 and M621 motorways in areas such as Hunslet, Beeston and Morley. One of the principal manufacturing areas is Cross Green, to the south-east of the city centre, where the new East Leeds Link Road now provides rapid access to Junction 45 of the M1. With an abundance of high-quality stock, many properties offer considerable value for money. The new road has also opened up access to a number of large industrial development sites.
Annual Rent Range: Up to £6 per sq. ft.
Local Business Rates: £2 - 2.40
Warehousing/Distribution
Leeds` location at the heart of the UK`s motorway network makes it a natural choice for haulage and distribution operations, with a number of strategically-sited industrial estates containing units ideal for warehousing and distribution. To the south-west, estates such as Gildersome Spur and Howley Park are situated directly on the M62 motorway, whilst Stourton Point in South Leeds offers easy access to the M1 and M62. Further East, premises in the Garforth area are ideal for the A1 route. Barwood Developments and CalEast Global Logistics have just signed a deal to deliver a 70 acre employment park at Hawks Park at junction 47 of the M1, while new developments in the Aire Valley Leeds, at Thornes Farm and Logic Park, are set to deliver millions of square feet of purpose-built distribution facilities with direct motorway access via the East Leeds Link Road and junction 45 of the M1.
Annual Rent Range: Up to £6 per sq. ft.
Local Business Rates: £2 - 2.40
Headquarters/Regional Offices
First for value for money of office space in Europe, according to Cushman & Wakefield`s 2010 European Cities Monitor, Leeds city centre offers an extensive range of grade A office space, with recently completed developments such as Latitude Red, Broad Gate, The Mint and Toronto Square incorporating large floorplates and state-of-the-art environmental efficiency features.
The city centre also contains a considerable amount of grade A refurbished office space. The area south of the River Aire and Leeds City Station is also developing as a prime location for financial and professional occupiers, with developments such as Bridgewater Place offering prestige offices, while Holbeck Urban Village provides a popular location for companies specialising in creative and digital media.
In addition, Leeds offers extensive high-quality out of town accommodation in flagship office parks such as Thorpe Park and Leeds Valley Park, where many companies have chosen to base headquarter and regional office functions.
Annual Rent Range: Up to £25 per sq. ft.
Local Business Rates: £5.00 - 9.20
Back Offices/Call Centres/Administration Centres
Annual Rent Range: Up to £20 per sq. ft.Local Business Rates: £5.00 - 9.15
Serviced Office Accommodation
Leeds is home to over 40 different serviced offices, ranging from basic workstations to high-spec suites in flagship locations. As serviced offices offer accommodation inclusive of bills and charges, on a flexible basis, they are ideal for a range of occupiers, including start-ups and occupiers seeking a toehold in the city, who may not wish to commit to a conventional lease at that stage. As well as extensive serviced office provision in the city centre, serviced offices are found across Leeds. Some offer particular advantages for certain business sectors, such as the Round Foundry Media Centre in Holbeck Urban Village, which provides a full range of services for creative and digital industries.
An all-inclusive licence fee ranges from £175 - £350 per person per month, dependent upon the quality of accommodation and the range of services provided.
Annual Rent Range: Up to £35 per sq. ft.
Local Business Rates: ££5 - 9.20
Light Industrial
Leeds Metropolitan District offers a huge choice of smaller units, factories, warehouses, mills, trade counters, workshops and lock-ups suitable for light industrial activities. Although found across the city, many are concentrated in popular trading estates in established light industrial areas such as Gelderd Road, Whitehall Road, Armley Road and Millshaw Park. In addition to the scores of private industrial estates, Leeds City Council also owns estates across the city, such as Penraevons Light Industrial Estate and Domestic Road Industrial Estate, offering a range of small industrial units at competitive rates.
Annual Rent Range: Up to £8 per sq. ft.
Local Business Rates: £2.00 - 2.60
Business Parks
Leeds is host to several thriving out of town office parks, with premises ranging from simple, functional units through to flagship regional and HQ buildings embodying cutting edge design. Some of the most significant are Thorpe Park Leeds, Leeds Valley Park and White Rose Office Park, which host blue chip organisations attracted by their competitive rents, attractive landscaped environments, on-site amenities (including restaurants and hotels) and excellent road transport links. Buildings at Leeds` office parks are suitable for a wide range of uses, including scientific and technical, R&D, contact centres and headquarters operations.
Annual Rent Range: Up to £20 per sq. ft.
Local Business Rates: £5.50 - 7.20
Land/Greenfield Sites
Over 65% of Leeds Metropolitan Borough is green belt, so out of town development land is largely concentrated in designated areas such as the Aire Valley Leeds. With land here earmarked for employment use, a number of large development plots and design and build opportunities are currently available, with more to be released in the future.
Under UK government legislation, parts of the Aire Valley have been designated an Enterprise Zone, to encourage private sector growth by offering businesses a range of benefits for locating there, such as reduced business rates and simplified planning rules.
Elsewhere, Leeds` changing urban landscape means there is a ready supply of brownfield former industrial sites suitable for redevelopment for a variety of uses, subject to planning consent.
Cost Range: Up to £500,000 per acre
Retail
Leeds` compact city centre contains major shopping streets, in addition to upmarket fashion destinations such as the Victoria Quarter, anchored by Harvey Nichols, and the new development at Clarence Dock. These are complemented by Leeds` traditional Victorian arcades and modern shopping centres. The new 1m sq ft Trinity Leeds scheme is currently under construction, and is due to open in 2013, dramatically enhancing Leeds' retail and leisure offer.
Outside the city centre, retail in Leeds is centred around established district centres and neighbourhood parades which offer opportunities at reasonable prices. To the South of Leeds is the White Rose Centre, a purpose-built 680,000 sq ft shopping centre with free parking and a multitude of national retail and leisure chains. A wide range of retail parks can also be found across Leeds.
Retail rents across the city vary considerably depending on location, passing footfall and size and quality of the property.
Local Business Rates: £23.00 - 39.50
Flexibility of Leases
The size and economic importance of the Leeds Metropolitan District means that the supply of suitable premises for any given purpose at any one time is considerable, presenting prospective occupiers with a wide range of property options. This choice, combined with the current economic situation and recent government legislation on business rates for empty properties, means that occupiers have considerable leverage with which to negotiate more flexible leases, often with more break clauses.
At the same time, although many landlords and agents are keen to preserve headline rents on properties, incentives available on many properties can be very attractive, with room for negotiation of considerable rent-free periods. This combination of choice and significant room for negotiation makes leasehold property in Leeds a very attractive option at present.
