The final unit at LGIM Real Assets’ (Legal & General’s) Gordano 19 Industrial Estate has been let to entertainment installation specialists Push the Button in a deal brokered by JLL.
The letting follows the completion of a refurbishment programme by Legal & General on behalf of its UK Property Fund. The property became vacant at the end of July and the minimal void period demonstrates the demand for this type of unit in a strategic location.
The unit is currently being fitted out and Push the Button intends to open its new 4,500 sq ft facility in early December. The letting follows another new tenant taking occupation. Pickerings Lifts moved into unit 12 in June in a deal brokered by Knight Frank.
The estate benefits from excellent communication links, lying just half a mile from junction 19 of the M5 motorway. It is also situated adjacent to the main entrance to the Royal Portbury Dock.
Henry de Teissier, senior surveyor at JLL, said: “This latest deal sets a new precedent for the headline rent on the estate which has gone up by more than 32 per cent since 2014. This reflects the high demand for refurbished and well-connected industrial space.”
Josh Gunn, of Knight Frank’s logistics and industrial team, comments: “The estate’s location just off J.19 of the M5 has been a major attraction for tenants. A lot of the occupiers on the estate distribute throughout the South West so access is of particular importance to them as a business.”
Push the Button and Pickerings Lifts join other existing tenants, Clear Channel UK Ltd, National Grid Gas Plc and Air Liquide (Homecare) Ltd.
JLL has been acting jointly with Knight Frank at Gordano 19.
