Evidence of the strengthening economy is clear to see on the Severnside horizon as the new 175,000 sq ft cold store being built for retail food chain Farmfoods nears completion, says Bristol property adviser GVA.
The temperature controlled distribution centre at Central Park is being built by Roxhill, the development partner of Central Park’s owners, Delta Properties, and is due for completion by the end of the year.
GVA with joint agent Knight Frank acted for Delta Properties and Roxhill in the pre-sale of the facility to Farmfoods earlier this year, and represents Roxhill as employers’ agent on the design-and-build freehold project.
Paul Hobbs, Director of Industrial Agency at GVA in Bristol, says: “Bristol and its wider city region has long been regarded as an attractive location for business, highly ranked for its quality of life, skilled workforce and strength in industry. It has recently been heralded as the most productive and competitive economy of any core city in the UK.
“It’s therefore no surprise that as the markets return, we see businesses choosing locations such as Central Park as the hub for their distribution and logistics expansion in the region.
“The latest Bristol take-up figures for industrial property suggest a strong first half of the year, with rental growth also predicted for the next six months. With limited speculative development taking place in the region, the ability to fast-track development such as the Farmfoods centre at Central Park will no doubt appeal to companies serving the changing retail markets and the resurgent trade counter sector.”
Farmfoods will be the second logistics occupier at the 600-acre Central Park, joining pallet distribution company CHEP UK.
Paul Hobbs continues: “From deal to completion in record time, Farmfoods will be in occupation at the end of 2014. This freshly delivered centre is indication of the changing horizon at Severnside and the ability of Central Park to be at the forefront of delivering growth in the region.”