DHL Express depot secures forward funding
A DHL Express warehouse in Leeds has secured forward funding to the tune of £12 million.
Total Developments, which is developing the 16-acre scheme known Total Park in Leeds secured the deal with a private investor following the pre-letting of the 57,350 sq ft earlier this year.
DHL agreed the deal for the unit on a six-acre site in January. It is expected the project will be completed in August 2020
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The Shoosmiths’ UK real estate team advised Total Developments on the sale. It marks the third recent project that Shoosmiths has advised Total Developments on, including the sale of two industrial units in Greater Manchester and Wigan and the £8.75 million purchase of a commercial development site in Bedford.
Detailed planning permission for five further industrial and warehouse units, ranging in size from 9,200 sq ft up to 58,000 sq ft, has also been secured and work on these units is currently underway.
The remaining units are being marketed jointly by Gent Visick and M1 Agency.