IM Properties has completed a duo of lettings at its Longwell Green trade counter scheme near Bristol, leaving just two units available to let.
The 3,850 sq ft Unit 5 has been taken by Betta Living, which opened a new kitchen and bathroom showroom in December, while Formula One Autocentres will launch a new servicing and MOT testing centre at the 5,000 sq ft Unit 6 in February 2014. Both lettings have achieved rents in excess of £10 per sq ft.
Located off the A4147 Avon Ring Road, the trade park is just five miles from Bristol City Centre and has strong connections to the national motorway network through Junction 1 of the M32 and Junction 19 of the M4.
Lewis Payne, IM Properties, said: “This has been an excellent year for our Longwell Green development, with Formula One Autocentres and Betta Living joining other well-known names on the trade park. While we always anticipated that this would be a popular site, the speed with which these units have been let has been pleasing and is testament to the strong regional location. A total of 5 deals have now been done since the scheme was completed a little over 12 months ago.”
Ian Barrett, Property Director, Formula One Autocentres, said: “We are delighted to have secured this excellent site which is part of our drive towards having over 100 motorists centres open as quickly as possible. IM Properties were very helpful and professional throughout the deal and we are looking forward to opening the centre in early February, following fitting out.”
Adept Consultancy UK Limited acted on behalf of Formula One Autocentres.
Longwell Green Trade Park has proven to be a popular location since its completion in 2012 and is already home to Screwfix, Halfords Autocentres and Toolstation. The trade park scheme is located adjacent to a strong retail location with occupiers including Homebase, B&Q, Marks & Spencer, Next and Boots.
The completion of the deals leaves just two trade counter units capable of providing between 2,940 sq ft and 5,900sq ft – available at the scheme.
Each of the available units benefits from a double height glazed feature entrance, 7.2m minimum clear internal height, 37.5 kN/m2 floor loading, overhead sectional loading door and substantial signage panels.
In addition, IM Properties has planning permission for an 18,000 sq ft self-storage unit at the trade park and talks are taking place with a number of operators.
