Forward Planning Funding Deal to Support New Industrial Development

26 April 2022

A development of new industrial units with the potential to create about 300 jobs is set to be built on a site in West Yorkshire following completion of a forward funding deal.

Interchange 26 LLP has completed on a forward funding deal with 4th Industrial (UK) LP for up to 213,000 sq ft of new industrial units at the Interchange 26 logistics and manufacturing hub.

Three units are set to be built at the logistics hub, located at the major J26 intersection of the M62 Transpennine motorway and M606 Bradford link.

Reserved matters consent has recently been granted by Kirklees Council for a 64,500 sq ft unit and a 43,500 sq ft unit. A further planning application is under consideration for up to 105,000 sq ft, which forms the final phase of development.

GMI Construction has been appointed as contractor and work is scheduled to start on site in early 2022, with the completion of the two consented units expected in late summer 2022. Works on the final phase will commence once planning has been considered by Kirklees Council.

Ryan Unsworth, development director at Opus North, said: “This forward funding agreement will enable us to bring three much needed mid-box units to the severely constrained regional pipeline, fulfilling our vision for this strategic site.

“This development will go some way to addressing the supply and demand imbalance in South Bradford and North Kirklees, while facilitating new jobs for the wider region.”

Interchange 26, an Opus North & Network Space Capital owned company, acquired the former water treatment works on an unconditional basis in 2019 to facilitate the development of industrial accommodation.

The latest deal follows on from Interchange 26’s 10.4-acre land sale in 2020 to British Airways Pension Trustees Ltd and Tungsten Properties. Work is underway on Super B, a new big box warehouse, which is set for completion in the third quarter of 2022.

Interchange 26 LLP was represented by Dove Haigh Phillips and Knight Frank in the transaction while 4th Industrial represented itself.

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