One of the UK’s leading glass suppliers is set to become the first occupier at a new multi-million pound business park in the South West, joint venture developer Richardson Barberry has announced.
Pilkington Automotive Glass has agreed a 10-year lease on a 13,500 sq ft trade counter unit at More+, Central Park, Avonmouth, Bristol, at a rent of £8.94 per sq ft – a new record for the region.
The first phase of the development – five mid-box warehouse units, totaling 174,500 sq ft – is expected to reach practical completion in May. Richardson Barberry has speculatively developed phase one via appointed contractor VINCI. The 40-acre site is capable of accommodating 557,426 sq ft of mid-box warehouse units.
The development will provide the final phase of the already highly successful 350-acre park. In total, it will comprise 11 buildings ranging in size from 13,200 sq ft to 126,000 sq ft.
Units are suitable for business uses including e-fulfilment, storage and distribution. A joint venture between West Midlands-based commercial property developers Barberry Group and Richardson, the development will create around 700 jobs for the region.
Jonathan Robinson, Barberry development director, said: “It is exciting to be able to announce the arrival of a very well-known household occupier of the calibre of Pilkington before we have reached practical completion.
“More+ Central Park is a best in class, strategically located site next to the new motorway junction of the M49 due to be completed later this year. Our scheme offers new, self-contained detached mid-box warehouse units with large yards to a market where there is strong demand for this size units.
“In securing Pilkington Automotive Glass at a record rent for the region, we have demonstrated that this is a development of the highest quality in a first class location.”
He added: “Our speculative development was the right strategy for this site and we expect to be able to announce further occupiers in the near future.”
Richard Palmer, operations manager at Pilkington Automotive Glass, said: “Pilkington Automotive Glass has secured a 10-year lease with Barberry and associates at More+ Central Park, which will allow us to not only service the requirements of the market place now but has been designed to ensure we can meet the demands over the next 10 years, too.”
He added: “Richardson Barberry are very professional and it has been a pleasure working with them. The unit has been built to a very high standard and we are looking forward to moving in later this month.”
Mark Watkins, on behalf of Richardson, said: “This has been a magnificent development and to secure a household name such as Pilkington clearly demonstrates that the quality of the warehouse units and the excellent location is delivering exactly what the market requires.”
Charles Swanson, of property consultancy Cushman & Wakefield, said: “I was delighted to advise Pilkington on the lease acquisition of Unit 11 More+ Central Park. After an extensive search, the high specification of the spec built detached warehouses at More+ Central Park and private yards, made this an easy decision in the end.”
Highways England is creating a new junction at the nearby M49, providing direct access into Central Park, which is due to complete this year providing a national motorway connected site.
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 is speaking to several interested parties who have expressed an interest in leasing or purchasing a unit.Major occupiers include The Range, DHL, Amazon, Lidl, Farmfoods, Davies Turner and CHEP.