Bristol property company Terramond and Yate-based road marking company Kelly Brothers have jointly acquired a redundant 3.5 acre site and a 50,000 sq ft industrial building in Yate for redevelopment.
Kelly Brothers, which has been looking for new premises in Yate for five years, will take 2.5 acres of the site, at the junction of Armstrong Way and North Road, to construct a purpose-built 6,000 sq ft headquarters and depot. Work has just got underway with proposed completion and occupation in January 2016.
Terramond, the company behind successful industrial developments at Rockingham Park in Avonmouth and North Bristol Park in Filton, will redevelop the existing building to create 25,000 sq ft of modern production and distribution space. Work will be complete by the end of 2015.
Huw Thomas of Terramond said: “We have pre-sold half of the space to West Technology Systems Ltd, a specialist vacuum engineering and control instrumentation company. At 12,500 sq ft, the acquisition effectively doubles West Technology Systems’ floorspace. The remaining 12,500 sq ft of accommodation is available through Alder King to purchase or lease.”
The sale to Kelly Brothers and Terramond, negotiated by property consultants Alder King, has enabled two successful Yate businesses to expand while remaining local.
Kelly Brothers is currently based on two sites in Yate, on Station Road and North Road, and will consolidate its operation into one building while allowing for further expansion. West Technology Systems will relocate from Great Western Business Park in Yate.
Andrew Ridler, industrial partner at Alder King, said: “Kelly Brothers’ five year long search for new premises is indicative of the state of the industrial market in many parts of the South West, with companies wanting to move but unable to find suitable premises. This deal therefore represents the holy grail for Kelly Brothers and West Technology – a site close to their respective existing premises which they can develop to their exact specifications.
“The site also provides Terramond with a redevelopment opportunity in an area experiencing strong demand for quality business space.”
Alder King has now been instructed by Kelly Brothers and West Technology Systems to market both companies’ existing premises, freeing up more space for other occupiers looking to expand.
