Barwood Capital with development partner Trebor Developments has acquired a 7.5 acre freehold site, prominently located in the Portside area of Bristol, to bring forward a range of speculative industrial units totalling 153,000 sq ft from Bericote Properties with an anticipated GDV of £19 million.
The scheme will be built on a fast-track basis to meet the area’s strong occupier demand, with all units being developed in a single phase and offering flexibility from 15,000 sq ft to 47,000 sq ft, as well as providing a single unit of up to 87,000 sq ft, with all available for occupation during 2019.
Portside is located on Kings Weston Lane in the heart of Avonmouth and adjacent to Bristol Port. The site benefits from direct access to both the M5, M49 and Avonmouth Docks which is one mile to the west of the site, and Bristol City Centre which is approximately eight miles to the south, accessed via the A4 Portway.
Andrew Barlow, director, Barwood Capital said: “We are delighted to have acquired Portside which meets the property strategy for our 2017 Property Fund due to its excellent location and strong warehouse occupier demand. We look forward to breaking ground with Trebor Developments in 2018 and delivering this exciting scheme. We are in continuing negotiations with similar sites around the UK.”
James Drew, development manager, Trebor Developments added: “We are excited to be involved in such a well located and strategic site, which benefits from planning consent. We look forward to working with our partner Barwood Capital in delivering a range of high-quality industrial accommodation. We will be adopting our fast-track development programme to ensure units are available during 2019.”
Jonathan Maher, director, Bericote Properties said: “The Portside development has been very successful for Bericote firstly with the Asda facility and now we are pleased that the remaining 7.5 acres will be taken forward by Barwood Capital and Trebor allowing us to focus on our strategic sites across the UK”.
CBRE acted on behalf of Barwood Capital and Trebor Developments; Hartnell Taylor Cook acted on behalf of Bericote Properties.
