Construction has started on the first phase of a multi-million pound business park in the South West, joint venture property developer Richardson Barberry has announced.
The speculative development of phase one – five mid-box industrial units, totalling 174,500 sq ft – is underway at the 40-acre site in Bristol, which was acquired by Richardson Barberry late last year.
The site is capable of accommodating 556,000 sq ft of mid-box industrial units. VINCI Construction UK has been appointed and are now on site delivering the scheme, known as More +, Central Park.
Located at Central Park, Western Approach, Avonmouth, the development will provide the final industrial phase of the already highly successful 350-acre park. It will comprise 11 buildings ranging in size from 13,200 sq ft to 105,000 sq ft.
The units are suitable for business uses including industrial, storage and distribution. The development – a joint venture between Barberry Group and Richardson – will create hundreds of new jobs.
Central Park boasts several major occupiers including The Range, DHL, Amazon, Lidl, Farmfoods, Davies Turner and CHEP.
Jonathan Robinson, Barberry development director, said: “With the estate road now complete we have started construction of the first five units. There is significant pent up demand in the region for mid box units, which is why we are confident that speculative development is the right strategy for this site.
“This is a significant development of a total 556,000 sq ft of industrial/warehouse space that will create the size of warehouses and business units that local, regional and national occupiers have indicated are in short supply. It will also complement the larger buildings at Central Park. The scheme will bring around 700 new jobs to Bristol and provide a boost in jobs for the construction sector.”
He added: “Highways England is creating a new junction at the nearby M49, which will provide direct access into Central Park, due to complete in 2019, providing a national motorway connected site.”
Mark Watkins, of Richardson, said: “We’re delighted to get to the point where construction of phase one of our Central Park development is underway. We are very much looking forward to delivering units of a size and quality that are in high demand in this region.”
VINCI Construction UK regional director Russell Flowers said: “Vinci South West and Wales region are delighted to be commencing construction on the first phase of this new joint venture development with Richardson Barberry and look forward to delivering a successful project for our client and future occupiers as well as deepening our relationships for the future.”
Central Park is one of the region’s largest logistics hubs, which borders the M49 in Avonmouth. It is a fully serviced site with planning consent ready for development. Richardson Barberry already has several interested parties who have expressed an interest in leasing or purchasing a unit.
