Keyland Developments has sold its 50% share interest in the 165 acre Temple Green logistics hub in the Leeds City Region Enterprise Zone to invest in its new business model of working with regional landowners to facilitate the regeneration of strategic sites.
Keyland, which is the property trading business of Kelda Group and a sister company of Yorkshire Water, has sold its 50% share in The Aire Valley Land LLP to Harworth Estates, the UK property regeneration company wholly owned by Harworth Group.
The deal sees Harworth Estates become 50:50 partner in Temple Green with Evans Property Group. Keyland was represented by Gent Visick and Harworth acted on its own behalf.
Temple Green is the single largest employment site in the Leeds City Region with planning permission in place for 2.64m square foot of commercial space at Junction 45 of the M1. It is recognised as the largest industrial and distribution development to emerge in Leeds for over a generation.
With a £9.1 million infrastructure programme close to completion at the site, it will soon be oven-ready for large scale development with guaranteed delivery timescales. Harworth will now contribute its extensive experience in bringing forward large commercial sites, such as Logistics North in Bolton, to generate development on a key strategic site for Leeds in partnership with Evans Property Group. The site also sits adjacent to Harworth’s existing landholding at the 162 acre former Skelton Grange power station – providing the potential for future complementary uses.
After two decades of developing a successful formula for maximising the value of key sites, Keyland is now extending its services beyond the portfolio of Yorkshire Water to other landowners in the North of England.
Peter Garrett, Managing Director of Keyland Developments, said: “The industrial sector both regionally and across the country is really gaining momentum and both investor and occupier appetite is strong. We have been busy preparing for sale a number strategic sites capable of accommodating large-scale industrial developments in order to attract inward investment and assist the regional industrial development pipeline.”