Two speculatively developed industrial units at £150 million Bridgwater Gateway have been let to a nuclear engineering company, in a deal negotiated by Colliers International.
Units 1604 and 1605 are among a terrace of five speculative Grade A units totalling 25,000 sq ft which have been built at the 120-acre business park near J24 of the M5. These units are the first to be built speculatively in Bridgwater for over a decade.
The two units, which together total nearly 11,000 sq ft, and have been let on a straight 10-year term to AMS Nuclear Engineering. The company has experienced a strong period of growth and the move to Bridgwater Gateway will facilitate the expansion of their business.
Ben Mellick, Managing Director at AMS Nuclear Engineering, said “The decision to invest in this lease was made to enable us to satisfy the growing demand for our services and to provide our employees with a working environment that enhances their well-being. These units have been built to a high specification and are ideally located to satisfy both these objectives.”
Phil Wade, of developers and landlords Bridgwater Gateway, said: “Our decision to develop speculatively has been justified by the fact that two of the five units have been let within months of completion, and despite the impact of lockdown and the Covid-19 crisis.
“We are also seeing interest in the remaining three units from a wide range of potential users seeking well-located, high quality industrial space. These units also offer the flexibility to combine two units, as has happened with the letting of units 1604 and 1605.”
The remaining three speculative units at Bridgwater Gateway business park start at 5,381 sq ft and can be consolidated to suit larger occupier requirements of up to 16,000 sq ft. Each comprises a large open plan warehouse, first floor office space, dedicated car parking at the front, separately-accessed loading doors and parking for delivery vehicles at the rear.
Tom Watkins, head of the Industrial & Logistics team in the Bristol office of Colliers International, said: “There is considerable demand for prime industrial and logistics space in the South West, and the successful leasing of these two speculatively developed units is testimony to that.
“The three remaining units provide flexible options not only for businesses seeking to locate in the Bridgwater area near the Hinkley Point C power station project, but also for businesses that need good access to the M5 motorway.
The five speculative units are part of the first phase of the mixed-use scheme at Bridgwater Gateway, which is being marketed solely by Colliers International. Whilst we have the three remaining units in this terrace, we have 90 acres available for design and build opportunities should an occupier require a bespoke build in this location.
The first phase also includes a Premier Inn, which opened at the business park last year, and a Costa Coffee Drive-Thru which is currently under construction. The business park features a range of new commercial and office buildings, which will benefit from a landscaped site with views to the Quantock Hills Area of Natural Beauty.