The Western Branch of the Industrial Agents Society (IAS), made up of representatives from the region’s leading surveying practices, has released the industrial take-up figures for Greater Bristol for the first half of 2014.
The figures show a total take- up of 1.53 million sq ft whilst 20.25 acres of land was transacted between January and June this year.
The figures are the highest since 2005 for the equivalent period, with a record 126 transactions. For the same period in 2013, 1.41m sq ft of industrial space and 10.07 acres was transacted.
The largest deal of the period was the letting of the 384,768 sq ft former Morrison’s Regional Distribution Centre at Cribbs Causeway to The Range. However, more indicative of the emerging trends in the industrial market generally, was the sale to Farm Foods, who are constructing a 178,000 sq ft bespoke distribution centre at Central Park in Avonmouth.
Phil Cranstone, IAS Chairman and Associate Director at DTZ in Bristol, commented: “The Farm Foods deal is hopefully the first of many pre-let / pre-sale transactions in the region, and current live occupier requirements seem to indicate that this trend will continue into the second half of 2014, contributing to a positive full year total.”
The figures cover four local authority districts: Bristol City, Bath and North East Somerset, North Somerset and South Gloucestershire.
