Developer Harworth intends to build a number of commercial projects with proceeds from the £107 million land sale to Microsoft.
The South Yorkshire company has made a major investment in the Skelton Grange land in south Leeds, which it bought for £3 million less than a decade ago, representing even more than £30 million of investment in building permits, the source of strength and expanding the site.
The tech giant Microsoft is expected to build a “hyperscale” knowledge center on the site, as well as a logistics space. Waste-to-energy infrastructure, green and battery storage are also planned.
Harworth said there is a “clear opportunity” to grow its investment portfolio by progressing to a “high-quality logistics area with complementary energy uses”.
“Places of this nature are well suited to high value-added categories of use, such as knowledge centres and complex manufacturing,” the developer added in a statement from the city.
Harworth said his 3. 5 million square meter commercial project included more than 500,000 square meters of area about to go into development, and more than double that amount in the development plans alone.
Chief Executive Lynda Shillaw said the sale of Skelton Grange is the largest ever through the group.
“This highlights Harworth’s functions in winning complex sites, creating easy-to-plan master plans that maximize site potential, and implementing timely and effective investments in remediation and infrastructure,” he added.
“This transaction further strengthens our expertise in knowledge centers and highlights the evolving spectrum of industries that continue to be attracted through Harworth’s projects to the serviced land market.
He specified that Harworth currently carries out 60% of its activities in the commercial sector and that it intends to increase this figure to 85% in this decade.
West Yorkshire Mayor Tracy Brabin said of the sale of Skelton Grange: “We are building the shipping infrastructure, skills pools and thriving ecosystem that we want to create jobs and growth.
“This new investment from Microsoft is an important vote of confidence in our plans, and I look forward to running with them and Leeds City Council to build a stronger, brighter region.
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