Richardsons Capital and Curtis Hall have acquired a prime 6.15 acre industrial development site at Western Approach, Bristol from IDI Gazeley.
They have submitted planning for a new 105,000 sq ft high specification distribution unit which will be speculatively developed, with practical completion targeted for the end of Q1 2018.
Western Approach is one of the biggest industrial locations in the South West and is close to the M4/M5 motorways and high profile occupiers including GKN, Royal Mail, Next and Warburtons.
Neil Curtis from Curtis Hall said: “We are very excited about this rare off-market opportunity to buy a development site in a prime Bristol location. Our research suggests there is a very limited pipeline of high quality warehousing to meet the number of requirements in the current market and therefore we feel confident in pursuing a speculative strategy in this location.”
Cushman and Wakefield and Russell Property Consultants have been appointed as letting agents on the scheme.
Richardsons and Curtis Hall were advised by Stonehill Partners on this acquisition.