The increasing demand for industrial space across the UK has been underlined by recent activity at the popular Beeches Industrial Estate in Yate, on the outskirts of Bristol.
The estate has a new owner, after being sold to DTZ Investments by Threadneedle, and a number of new tenants have also moved in following a series of lettings negotiated by Colliers International and joint agents, JLL.
The most recent arrival is TVM Cheltenham, Independent Mobility Specialists, at Unit 60, which comprises 2,223 sq ft of industrial space.
Tim Davies, the Bristol-based Head of Industrial and Logistics for Europe, the Middle East and Africa, at Colliers International, said: “The recent change of ownership at Beeches underlines the fact that this industrial estate has become an increasingly valuable asset in a market in which supply is limited, and good quality industrial units are being snapped up almost as soon as they come to the market.
“Beeches is ideally located on the outskirts of Yate, providing good access to the M4 and M5 motorways. I’ve been involved with The Beeches for about 20 years, and there has been a noticeable increase in interest from potential occupiers as demand for commercial property continues to gather pace.”
The 350,000 sq ft estate is one of four multi-let estates bought by DTZ Investments from Threadneedle for approximately £82.5 million, reflecting a net initial yield of 6.4%.
The estate comprises approximately 30 units, but only a handful of these units are available following the lettings negotiated.
The new owners are pleased to offer the recently-refurbished Unit 11 to 14 to the market. This provides approximately 28,000 sq ft of industrial/warehouse space and is one of the few units of this size available in the market.
