Commercial property specialist Colliers International has reported a flurry of activity at industrial estates in Thornbury, amid continuing high demand for warehouses in the Bristol area.
At Ashville Park, which is strategically located near to the A38 with good access to the M4/M5 Almondsbury interchange, two units recently went under offer prior to being formally brought to the market.
Unit B3 (5,285 sq ft) was sold to Dantek Environmental Services at £100 per sq ft, and Unit C2 (2,677 sq ft) was sold to Avon Displays Ltd at £108 per sq ft.
Colliers International represented both the private individuals who previously owned the units. Dantek Environmental Services was represented by Rob Russell from Russell Property Consultants, while Avon Displays Ltd were unrepresented.
Meanwhile at the nearby Hemingway Centre – which is owned by Threadneedle and managed by Collingwood Rigby – Unit 3C (3,363 sq ft) has been let by Colliers International to JWG Drylining on a five year term at £6.00 per sq ft.
Nearby end-of-terrace Unit 5 (2,909 sq ft) is currently available and ready for immediate occupation, and Unit 12 and 13 (13,711 sq ft) have recently returned to the market, and are available either individually or as a whole. Colliers International is also marketing the adjacent Units 22-27 at Thornbury Industrial Estate (23,442 sq ft), which is set to undergo an extensive refurbishment, and will provide good quality space with a large secure yard.
Tom Watkins of the Industrial and Logistics team at Colliers International said: “Given the high demand for freehold warehouse opportunities and limited supply, we had anticipated considerable interest when we brought the two units at Ashville Park to the market.
“Our expectations were surpassed, however, when both units went under offer before they were actually put on sale. We are now advising businesses seeking industrial units to register their requirements with us, rather than waiting until sales particulars are issued.
“Unit 12-13 at Hemingway Centre will undergo refurbishment shortly, and will provide good quality space. Also set for extensive refurbishment are vacant Units 22-27 on Thornbury Industrial Estate, with practical completion scheduled for next year.”
The recent deals by Colliers International at the Ashville Park and Hemingway Business Centre follows the acquisition of Unit 7 Midlands Way (4,100 sq ft) in Thornbury in December 2015 on behalf of Screwfix Direct Limited. The store is now open and trading.
Tom Watkins said: “Thornbury is attracting considerable interest from potential occupiers, as it provides an alternative to Almondsbury and Yate and benefits from good access to the interchange of the M4 and M5 motorways.”
