One of Bristol’s premier industrial estates has welcomed an Italian food distributor as its newest occupier.
Carnevale has purchased two units at Apollo Park, totaling 9,851 sq. ft as it expands its distribution facility.
This is the third deal JLL has brokered, disposing of five units, on behalf of Chancerygate. Colonna Coffee took occupation of unit five earlier in the year, followed by the sale of two units to food company, First Quality Foods, which completed in September.
Giles Weir, director of industrial and logistics at JLL, said: “This latest deal demonstrates the continued demand for both freehold properties and distribution facilities. Demand for freehold stock has been ever present in the market as occupiers have sought the ownership of their own premises. This is great news for Chancerygate and rewards its strategy to build speculatively which is now paying off.”
Victoria Mann, asset manager at Chancerygate commented: “The high level of interest we have had from prospective tenants and owner occupiers has been very encouraging. The latest sale of two units to Carnevale has boosted the strong list of occupiers at Apollo Park. Indeed, all three transactions are a great result at the estate and justify the decision that Changerygate took to build speculatively.”
Giles Weir added “These recent transactions show there is plenty of confidence within the industrial market. Whilst supply is at a 13 year low, our enquiry levels have remained steady for the last two years, across all size ranges. The number of transactions has fallen but this is as a result of lack of development.
“Fortunately, 2018 will see a significant increase in availability due to the completion of several speculative schemes across the region. At last, next year will see supply levels at their highest level for quite some time, enabling many firms to finally achieve their property requirements.”
