A major logistics lease has been secured in West Yorkshire.

NG Bailey has taken 115,000 sqft of refurbished warehouse space at Shawcross 115 in Shawcross Business Park, near South Leeds, from Crossbay, the urban logistics strategy of pan-European real estate investment manager MARK Capital Management.

The site, located just off junction 40 of the M1, will support NG Bailey’s work on Tata Group’s £4 billion UK gigafactory project, where it is delivering engineering and production services.

Devan du Plooy, Head of UK, Crossbay, said: “This agreement represents the strength of demand for high-quality last mile assets that are strategically located, sustainable, and designed to meet the requirements of a very wide range of occupiers.

“Furthermore, it demonstrates the Crossbay team’s market-leading ability to source off-market opportunities and undertake significant asset repositioning, in order to maximise value for our investors.”

Crossbay acquired the warehouse while vacant and completed a full refurbishment as part of its sustainability-led asset and capex management programme.

The building, which now holds an EPC A rating, has been divided into two units and incorporates state-of-the-art sustainability technologies to minimise operational carbon emissions and improve overall energy performance.

The remaining unit, Shawcross 55, is still available to let.