• NG Bailey has leased 10.7k sqm (115k sq ft) of refurbished warehouse space in West Yorkshire from Crossbay
• The lease follows a comprehensive refurbishment programme initiated in line with the platform’s value-add strategy

Crossbay, the urban logistics strategy of pan-European real estate investment manager MARK Capital Management, has completed one of West Yorkshire’s largest logistics leasing deals of 2025.

Crossbay has let Shawcross 115 – a 10.7k sqm (115k sqft) prime refurbished last-mile warehouse in Shawcross Business Park – to NG Bailey, one of the UK’s leading independent engineering and services businesses.

Located just off J40 of the M1, close to south Leeds, the warehouse will support NG Bailey’s production capacity for Tata Group’s £4bn Gigafactory project, where it is delivering manufacturing, engineering and production services for the UK’s largest battery manufacturing facility.

Crossbay acquired the last-mile warehouse when it was vacant, before completing a full refurbishment as part of its sustainability-led asset and capex management programme. The warehouse – which has achieved 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 second unit (Shawcross 55) is available to let and benefits from excellent loading capabilities and an over-sized concrete service yard.

Shawcross Business Park is less than nine miles from Leeds city centre and 2.5 miles from the M62 (J28) and M1 (J40), providing excellent national connectivity. Over two million people can be reached in 30 minutes, and 5million people in a 60 minute drive time.

The UK is a key target market for Crossbay’s second fund, Crossbay II, where over 100k sqm of space has been acquired in the country. The UK forms part of an 850k sqm pan-European portfolio, with Crossbay having further assets in France, Spain, Germany, Italy and the Netherlands.

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 was jointly advised by Knight Frank and Carter Towler.