Stoford has announced the purchase of a 20-acre site at Delta Properties’ Central Park development in Bristol. They will immediately commence a £43 million speculative development of three warehouse and logistics units.
The development of over 400,000 sq ft of warehouse space at Central Park, Avonmouth, Bristol, is being undertaken by Mountpark Logistics with Stoford acting as development partner.
Construction of the three buildings of 200,000 sq ft, 120,000 sq ft, and 80,000 sq ft will commence later this month, according to Mountpark director David Carvey, with practical completion scheduled for spring 2017. Detailed planning consent is already in place and Winvic Construction has been appointed as main contractor.
The site, part of Delta Properties’ 350 acre Central Park, is adjacent to another project at Central Park being delivered by Stoford – a new £90 million 1.2 million sq ft regional distribution hub for The Range on a 55-acre site there.
The new development is the latest in a series of deals between Stoford and Mountpark Logistics. The two companies have already joined forces to deliver major industrial and warehouse schemes at Wakefield Europort in Yorkshire and at Airport City, Manchester.
Tony Nash, director of Stoford, said: “This is an exciting development which gives potential occupiers a choice of three units of 200,000 sq ft, 120,000 sq ft and 80,000 sq ft. Careful design gives the potential to combine any of the units. We believe these will be in high demand as has been the case with our other speculative developments with Mountpark Logistics.”
He added: “Central Park, Avonmouth is an excellent location with first class infrastructure including the nearby M4 and M5 motorway, on site direct rail freight service and adjacent sea connections. The impending delivery of a direct junction directly into Central Park off the M49 is another attraction to the scheme.”
Michael Shebson, of Delta Properties, said: “We are delighted to welcome Mountpark Logistics. So soon after bringing both The Range and Lidl to our scheme, this is a further vote of confidence in Central Park from an internationally recognised developer. We look forward to working with Mountpark and Stoford as they deliver this significant speculative development for the benefit of the south west.”
Mountpark Logistics is a joint venture between Mountpark and the United Services Automobile Association (USAA), one of the US’s largest institutional investors.
Knight Frank & Bilfinger GVA acted for Delta Properties.
Founded in 1996, Stoford specialises in occupier-led, pre-let commercial property developments. It has completed commercial developments totaling well in excess of 10 million sq ft across a diverse range of sectors such as industrial, office, retail and hotels. Its innovative approach to site and contract procurement has ensured that Stoford remains highly competitive and is able to deliver a quality product on time and within budget.
It has been trusted to develop for some of the UK’s largest financial institutions and occupiers such as Standard Life, AXA, LaSalle, BlackRock, GE, Severn Trent Water, Npower, Admiral Insurance, Tesco and The Co-operative, together with Government departments such as HMRC, DSA, DEFRA and The Home Office.
