Chancerygate and Bridges Fund Management Complete 224,000 Sq Ft Grade A Logistics Scheme in Leeds

Chancerygate and Bridges Fund Management Limited have completed construction of T45, a 224,000 sq ft Grade A urban logistics development located within the Cross Green industrial area of Leeds, the firms announced Sept. 17.

The scheme, situated on the A63 East Leeds link road close to junction 45 of the M1, comprises 23 units ranging from 4,490 sq ft to 32,635 sq ft. Indurent, an industrial and logistics owner and operator, agreed to acquire T45 in September 2025 as part of a broader 750,000 sq ft, 76-unit Grade A urban logistics portfolio assembled by Chancerygate and Bridges.

Scheme Configuration and Location

T45 is positioned within an established logistics corridor that counts Amazon, Premier Farnell, John Lewis, FedEx, Lamborghini and McLaren among its neighbouring occupiers. The development's multi-let format — with units spanning from approximately 4,490 sq ft to 32,635 sq ft — is designed to accommodate a range of trade, light industrial and logistics operators across the Leeds City Region.

The scheme was delivered by main contractor Caddick Construction and is marketed by Indurent at Leeds Park Road, Richmond Hill, Leeds LS9 0GF.

Sustainability Credentials

T45 has been certified BREEAM Excellent, and every unit has achieved an EPC A rating as a minimum. The development incorporates electric vehicle charging points, air source heat pumps and rooftop solar panels across all units. High-performance building materials were used throughout to reduce operational CO₂ emissions, reflecting a fabric-first design approach.

Matthew Connor, senior development and transactions director at Chancerygate, said the completion marks the delivery of "the first multi-let urban logistics scheme of this scale in Leeds for a generation."

"With connectivity to key arterial routes and strong sustainability credentials, we anticipate strong demand in the scheme from a range of businesses operating across the Leeds City Region," Connor said.

Henry Pepper, partner at Bridges Fund Management, said T45's sustainability profile was central to its appeal to Indurent. "There is growing demand from occupiers for industrial units that help to reduce operating costs and carbon emissions, and we expect this to be reflected in a strong level of interest from potential tenants in the Leeds area," Pepper said.

Portfolio Context and Transaction Background

T45 forms part of the larger portfolio Indurent acquired from Chancerygate and Bridges in September 2025. In addition to T45, that portfolio includes Torque in Erdington, Birmingham, totaling approximately 271,000 sq ft, and Holbrook Park in Coventry, totaling approximately 255,000 sq ft. The portfolio was structured as a combination of forward acquisitions, including T45 and Torque, and a stabilised asset acquisition at Holbrook Park.

Bridges describes itself as a specialist sustainable and impact investor whose property funds focus on sectors supporting the transition to a more sustainable and inclusive economy, including healthcare, lower-cost housing and sustainable logistics. The forward sale structure allowed Chancerygate and Bridges to secure an institutional exit while continuing to deliver the scheme to completion.

Market Context

The completion of T45 arrives against a backdrop of sustained occupier demand for logistics space that meets tightening energy efficiency and carbon reduction requirements. Indurent's acquisition of the broader Chancerygate-Bridges portfolio reflects continued institutional appetite for newly built, high-specification urban logistics assets in established UK distribution markets.

Indurent markets individual units at T45 with quoted sizes ranging from approximately 4,485 sq ft to 32,634 sq ft, with one listing indicating an annual rent of approximately £383,500 for the largest unit.

About the Parties

Chancerygate is an industrial and logistics developer active across the United Kingdom. Bridges Fund Management Limited is a sustainable and impact investment manager with a dedicated property fund strategy. Indurent is a UK-focused industrial and logistics owner and operator.

Sources:
Chancerygate — Chancerygate and Bridges complete work on 224,000 sq ft grade A sustainable logistics development in Leeds