Standard Life Investments has acquired the freehold of a detached logistics building in Bradley Stoke, north Bristol for refurbishment and letting.
Unit 2 at Interplex 16 will provide a much-needed fillip to the city’s industrial market which has seen supply fall dramatically in recent years to a 12 year low.
A £550,000 refurbishment of the premises is now well underway and due for completion in May. When complete the unit will provide some of Bristol’s best mid-range space, with 53,000 sq ft of warehouse and ground and first floor integrated office accommodation, 6.6m clear eaves, four ground level loading doors and a secure concrete service yard with ancillary car parking.
Property consultants Alder King and Knight Frank have been appointed agents on the scheme.
The unit, recently occupied by the Royal Mail on a short-term basis, sits on a secure 2.22 acre site overlooking the Almondsbury Interchange and half a mile from Junction 16 of the M5.
“The availability of a newly-refurbished mid-range unit will be very welcome news indeed for the market, says Andrew Ridler, partner at Alder King in Bristol. “We’ve seen a significant increase in demand for units in the 25,000 – 75,000 sq ft size range but, with supply at a 12 year low, there are few options.”
Russell Crofts, partner at Knight Frank, added: “With few opportunities available, this unit in such a prime and proven north Bristol location goes someway to addressing this shortage.”
