Developer Chancerygate has acquired a five-acre site in Avonmouth, Bristol, to speculatively develop 135,150 sq ft of Grade A sustainable urban logistics space with a gross development value of around £35m.
Called Kestrel Park and located on Palmer Avenue in the established Central Park industrial estate, the development will comprise six units ranging in size from 16,450 and 33,400 sq ft. The site already has planning consent for industrial use.
Less than half a mile from the new Junction 1 of the M49 motorway, and within close proximity to the M4 and M5, the site sits just a 30-minute drive away from Bristol city centre. Neighbouring occupiers include Waitrose, Amazon, Lidl, the Range and Farmfoods.
Units at the development are available on a leasehold basis and will have a target rating of BREEAM Excellent.
Construction work is expected to commence in spring next year and it is anticipated that the first occupiers will move in during Q4 2026.
Chancerygate development director, Tom Faulkner, said: “Acquiring this site in Avonmouth, just off the new M49 junction, is a fantastic opportunity for us provide the high specification, sustainable multi-let industrial accommodation we consistently deliver across the UK.
“There is high demand from occupiers across Bristol and the surrounding areas for high quality, Grade-A space in well-connected, established industrial locations.
“Our Kestrel Park development will meet this demand and provide occupiers with units in an unrivalled strategic location to serve both the locality and the wider South West region.”
Founded in 1995, Chancerygate is the UK’s largest urban logistics property developer and investment manager and the only one operating nationwide.
In the UK, Chancerygate currently has around 2.1m sq ft of urban logistics space under construction or ready for development across 13 sites ranging from Manchester to Croydon.
The Avonmouth site was acquired from supermarket chain Farmfoods for an undisclosed sum. Russell Property Consultants advised Chancerygate on the transaction whilst Knight Frank acted for Farmfoods.
Agents for Kestrel Park are Russell Property Consultants and Knight Frank.