August 10, 2016
Work has started on site at a new £8m retail park in Armley, which will be home to Lidl, B&M Homestore and Farmfoods
The retail park, which is already fully let, is being developed on a derelict four-acre site by Opus North, an Ilkley-based property and investment company.
Opus North has sold part of the site to Lidl for its store, while the Palmer Capital Income Fund has bought the remainder of the site, with tenants B&M Homestore and Farmfoods on 15-year leases. Together the sales raised £8m.
Leeds planners gave the green light to develop the site last year, which was previously occupied by DENSO Marston, the thermal cooling systems manufacturer.
Construction is scheduled to open in the early summer of 2017. The main contractor is Shipley-based Stainforth Construction.
Andrew Duncan, the managing director of West Yorkshire-based Opus North, said: “This was an excellent deal for all concerned. We are very proud of transforming a derelict eyesore in a prominent area of west Leeds into a first-class retail park, with household names as occupiers.”
The DENSO Marston factory, which is on one of the main roads through Armley, has been empty for a number of years since the company moved to new premises in Shipley. It has now been demolished.
Fox Lloyd Jones advised DENSO Marston and Rees Denton and Savills advised Opus North on the lettings on site.
Author: Laurence Kilgannon, Insider Media
Link: http://www.insidermedia.com/insider/yorkshire/work-starts-on-8m-leeds-retail-park