Colliers International has achieved a new headline rent for Beeches Industrial estate during the lockdown period.
The global real estate advisory firm, acting jointly with JLL on behalf of client DTZ Investors, secured the deal for the 6,939 sq ft unit at a rent of £7.95 psf, on a new 10-year lease. The deal included a competitive rent-free package at the beginning of the lease and a five-year tenant break option.
Tom Watkins, Associate Director, Head of the Bristol Industrial & Logistics team, said: “Despite the economic pressures being faced by businesses up and down the country due to the COVID-19 lockdown measures, we’ve been able to secure a new tenant at the quoting rent for this industrial estate.
“Many of the units on this estate have been recently refurbished and we believe this was one of the key factors that helped us to secure this new letting because there’s still strong demand for good quality industrial space.”
Elliot Herbertson, Asset Manager at DTZ Investors said “It’s great to see that demand remains strong in the Bristol market. It’s evident that occupiers are searching for good quality space, so we were confident that our decision to comprehensively refurbish the units would be the right one and we have been rewarded accordingly.”
Colliers International is also marketing other quality industrial units on the estate, with features which include parking, loading bays, yard space or office accommodation.
Units 27-28 (14,061 sq ft), is currently undergoing an extensive programme of refurbishment works, and is being marketed along with Unit 50 (6,552 sq ft), a new build premises which is available for immediate occupation, and Units 7-8 (14,006 sq ft), which is refurbished and available for immediate occupation.