Blue Marble Asset Management (Blue Marble) has sold out Phase 2 of Caxton Business Park, Warmley in East Bristol, before practical completion, with the sale of Unit 5 to St John’s Ambulance.
Acting on behalf of Axten Properties LLP, and represented by Alder King, Birmingham-based real estate asset management specialist Blue Marble sold the freehold of the 2,972 sq ft industrial unit at Caxton Business Park, Tower Road North, Warmley, Bristol, BS30 8XJ, achieving a figure around the quoting price of £110psf.
This is the final sale on the 35,000 sq ft development on a 2.4 acre site. 20,000 sq ft was pre-sold to WBC Automotive for a modern workshop and office space, while the remaining space was developed speculatively by Blue Marble into five high quality industrial units, each of about 3,000 sq ft.
“The sale of the whole of phase two prior to practical completion more than justifies the decision to speculatively build small industrial units on this site, and means that this a very successful development for our clients Axten Properties LLP,” says Tim Matthews, Chief Executive of Blue Marble Asset Management.
“Phase two at Caxton Business Park is a very rare example of speculative development of a small unit scheme, meeting the demands for new buildings in a market sector which is generally poorly catered for by developers. It is a prime example of how Blue Marble is ahead of the curve in investing in key geographic and market sectors, so that we can deliver the sort of returns our client is seeking.”
The development was constructed by local contractors, KMW Building Limited, who delivered the project on time and within budget.
Based in Birmingham and Worcester, Blue Marble Asset Management is a real estate asset management specialist which presently has more than £60 million of property assets under management. It works for a select range of clients including investment businesses, high net worth individuals, trusts and family offices. Its business is based on taking a holistic view of each of its property investments.