A pallet distributor has secured the lease on a 22,400sq ft warehouse at Lowfields in Elland.
ADD Express has taken the detached single storey warehouse which is directly opposite its 30,000sq ft facility. ADD is paying £5.25 per sq ft on a five-year lease with six months rent free.
The Leeds office of Knight Frank completed the deal on behalf of asset managers Citivale, based in Leeds, and TIAA Henderson Real Estate.
Tom Lamb, of Knight Frank, said: “This new deal for ADD underlines their confidence in Lowfields, which is a tremendous success story.
The deal is also excellent news for the Calderdale economy, creating sustainable jobs for the region.”
Mr Lamb said: “The rents at Lowfields are holding up exceptionally well, thanks to the quality of the park and its facilities, combined with its location. It is just off Junction 24 of the M62, so it benefits from the immediate links to the motorway network.
“It is also very well-placed for both Leeds and Manchester and has excellent access to both the East and West Coasts ports.”
James Appleton-Metcalfe, managing director of Citivale, said: “We are delighted that ADD are so happy with Lowfields Industrial Estate that they have decided to lease a further 22,400sq ft of quality industrial and warehousing space. We are proud to be part of their success.”
Dave Fairbrother, director of ADD Express, said: “Lowfields is the perfect geographical fit for us and the facilities are first-class. We are well-looked after by the owners, the units are superb and we have the option to buy in three years’ time.
“All in all, the estate provides everything we need. We had no hesitation expanding here.”