Bristol could see its first speculative industrial development for years following a deal brokered by Colliers International.
The Templeback-based property specialists negotiated Assimilate Systems’ move into the last remaining unit at The Avon Business Park off Lodge Causeway – on the back of this deal landlords Brink Green are planning to build a brace of additional units nearby.
Tom Watkins from the industrial and logistics team in Colliers International’s Bristol office said: “Unit 10 had been empty for quite some time, largely due to the high ratio of office to industrial space. But with secondary stock at such a premium, businesses had started to show an interest.
“Now the Avon Business Park is full, the landlords are looking at building a brace of small units, adding a further 3,500 sq ft of space.
“This could be one of the first speculative industrial buildings in Bristol for years.”
The Assimilate Systems’ deal is typical of increased activity that has been reported by Colliers International in the sub 5,000 sq ft category both in and out of town.
Tom Watkins added that activity levels are picking up across Bristol, notably at South Liberty Lane.
“There are a number of offers on the table for units on South Liberty Lane as firms look forward to significantly improved connectivity via the new South Bristol Link Road,” he said.
“Locally the access has always been difficult but the new road – due to be completed this time next year – should provide the connectivity South Bristol businesses have been crying out for.”
Further evidence of the improving commercial market is provided by the recent out of town office deal in which 1,493 sq ft at Blenheim Court in Almondsbury was let on a five year lease to Home Install Ltd. The deal on the self-contained building was brokered by Colliers and joint agents Burston Cook on behalf of the Blackstone Group.
Alfie Passingham from the national offices team in Colliers International’s Bristol office said: “Although out of town take up has been subdued this year we are seeing more requirements coming through that suggests we could see an uplift in the new year.”
There are a further two buildings available in the adjoining Buckingham Court for occupiers looking for good quality, self-contained space.