Crossbay, the urban logistics platform of pan-European real estate investment manager MARK Capital Management, has completed one of West Yorkshire’s largest logistics leasing transactions of 2025 after securing NG Bailey for a 10,700sqm warehouse at Shawcross Business Park near Leeds.

The refurbished asset, Shawcross 115, has been leased to NG Bailey, one of the UK’s leading independent engineering and services companies. The facility will support the business’s work on Tata Group’s £4bn electric vehicle battery gigafactory, where it is delivering engineering, production and manufacturing services for the UK’s largest battery facility.

Crossbay acquired the property vacant and undertook a comprehensive refurbishment programme as part of its sustainability-focused asset management strategy. The building has achieved an EPC A rating and incorporates energy-efficient systems designed to lower operational carbon emissions and enhance performance. The warehouse was split into two units during the upgrade, with the second unit, Shawcross 55, now available to lease. It benefits from enhanced loading facilities and an oversized concrete yard.

Situated less than nine miles from Leeds city centre and within close proximity to both the M1 (J40) and M62 (J28), Shawcross Business Park provides exceptional connectivity and access to a large labour pool. More than two million people can be reached within a 30-minute drive time and five million within an hour.

The deal forms part of Crossbay’s wider UK expansion under its second fund, Crossbay II, which has now amassed more than 100,000sqm of space in the country. The UK portfolio sits within an 850,000sqm pan-European platform spanning France, Spain, Germany, Italy and the Netherlands.

Devan du Plooy, Head of UK at 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 advised jointly by Knight Frank and Carter Towler.