With 117 acres sold in the last six months and construction shortly to commence on 2.4 million sq ft of warehouse space, Central Park at Weston Approach, Avonmouth, is proving an unprecedented success. Bilfinger GVA Director Paul Hobbs explains that there are three key reasons why Central Park is proving such a pull for occupiers.
In the last five months, Delta Properties’ Central Park has signed up four major deals totalling 2.4million sq ft. That’s over £200 million of construction work taking place on this 600 acre logistics hub over the next 24 months. By anyone’s standards, that’s unprecedented for a single location, not just in the South West for a logistics scheme, but throughout the UK.
Designed to be the South West’s largest distribution park, Central Park is undoubtedly the biggest speculative scheme of its kind to be brought forward over the last ten years.
So why is Central Park such an attractive proposition for major occupiers to acquire land and build there? Paul Hobbs says,
“Demand for swift internet order fulfilment and the geographical growth of the discounters’ store networks is stretching the drive times for the established logistics hub locations of the Midlands. The South West logistics sector is finally getting the investment it needs to serve a growing but dispersed population.
“Crucially at Central Park, planning permission and infrastructure is already in place, making immediate development possible. Delta Properties has worked hard to achieve this.
“Located close to the motorway network, and with a new junction planned for the M49 to enter directly into Central Park, this creates the ideal location for a logistics company wanting to quickly establish a south west hub.
“Thirdly, Central Park has on-site rail freight facilities, and with its proximity to Bristol Port, offers the perfect solution.”
Most recently, third party logistics group Davies Turner Plc has acquired 12 acres and will start construction in September for its new, bespoke 130,000 sq ft unit, for which there is already planning permission.
Delta Properties has signed up three other major transactions this year. The Range – proposed 1.2 million ft and Lidl – 600,000 sq ft, join Mountpark, who with Stoford are constructing a 400,000 sq ft speculative warehouse scheme, available from practical completion in April 2017. These developments join Farmfoods and CHEP UK who are already in occupation.
With 90 acres in further plots ready for immediate development, no doubt Central Park will be welcoming more occupiers in the very near future.