Leading industrial developer Chancerygate has continued its acquisition programme in Bristol with the purchase of the 6.6 acre former Amcor factory site in Warmley, on the eastern side of the city.
It is now preparing a planning application for 15 new production/distribution/trade units totalling circa 119,000 sq ft, which will include the refurbishment of an existing 35,000 sq ft distribution building. The completed units will be available on a freehold or leasehold basis.
Alastair King, development director of Chancerygate, said: “We have been actively targeting sites in Bristol to inject new stock into the city’s severely depleted industrial market. Our Apollo Park scheme in Yate is near to 100% occupied and we have recently submitted a planning application for 107,000 sq ft in 11 buildings at Vertex Business Park at Emersons Green where we hope to be on site in the next few months. The acquisition and redevelopment of the Amcor site will complement these developments.”
Alder King advised Chancerygate on the transaction while Burston Cook represented Amcor. Chancerygate has appointed both firms as agents on the new scheme.
Andrew Ridler, partner at Alder King, said: “Industrial supply across Greater Bristol is at a 13 year low and is particularly acute on the eastern fringe where significant numbers of long-term industrial occupiers are looking to upgrade their facilities. The proposed redevelopment of this site will deliver units ranging from 3,380 sq ft to 35,000 sq ft, available individually or in combination, and will help ease some of the frustration felt by many businesses who have been unable to find the quality of premises they need.”
Chloe Burston of Burston Cook added: “Following Amcor Flexibles’ announcement last year that the Warmley site was surplus to requirements, we’re delighted to have secured its sale to Chancerygate. As part of the transaction we have agreed terms for Amcor Flexibles to lease back around 15,000 sq ft of office space to retain its UK head office function in Bristol.”