The demand for industrial space in the Bristol area has been demonstrated by the speed with which a new tenant was secured for a unit on the northern outskirts of the city, according to commercial specialist Colliers International.
Summerfield Developments (SW) has secured a tenant for Unit 6 at Eaglewood Business Park, Almondsbury, with leading national plant hire company A-Plant taking a 10-year lease with a 5th year break option.
The letting to A-Plant by Summerfield Developments (SW) Ltd took place through their joint agents, Colliers and Savills.
The 7,113 sq ft end-of-terrace warehouse/business unit was until recently occupied by EE, the UK telecommunications company. It comprises a 3,117 sq ft warehouse, ground floor offices and WC of 2,049 sq ft, and first floor offices/Kitchen: 1,947 sq ft (180.9 sq m), plus forecourt parking for 18 vehicles.
Tom Watkins, Senior Surveyor, said: “The deal with A-Plant went through very quickly and was exchanged before the dilapidations work was completed.
“This reflects the high-demand for industrial space in the Bristol area, particularly for a well-located premises such as this on the established Eagleswood Business Park, which is seven miles north west of Bristol city centre with direct access to the A38 trunk road and adjacent to the M4/M5 interchange.
“We are seeing companies acting very quickly to secure premises appropriate for their requirements, and in an increasing number of cases they are registering with us as much as 12 months before they need to move to ensure they are ready to act when the right property comes to the market.”
Rob Cleeves Director at joint agents Savills added: “Summerfield Developments (SW) were able to capitalise on these market forces of supply and demand, to achieve a new headline rent on the estate.”