Barwood Capital has acquired the last remaining 11.86 acre plot at Central Park, Bristol adjacent to the new M49 junction from Delta Properties for £7.43 million and agreed a tie-up with fuel station and convenience retailer, Euro Garages on 4.5 acres, subject to planning permission.
Barwood Capital and Euro Garages will be seeking planning consent for a number of roadside uses, including a petrol filling station, hotel and drive throughs to offer a much-needed local amenity for all of the occupiers of Central Park and the wider Avonmouth Enterprise Area. The remaining land will be for the speculative construction of a logistics warehouse totalling 130,000 sq ft, known as ‘The Junction’.
Edward Henson, director, Barwood Capital said: “We are delighted to have secured such a prime site in the South West’s largest distribution park for our 2017 Property Fund investors. Central Park and the surrounding area has seen extraordinary levels of development in the past few years, becoming one of the most sought-after logistics locations in the UK. The new M49 junction will further improve accessibility to Central Park and the Avonmouth industrial estates. We look forward to providing the much-needed accommodation and seeking planning permission to provide roadside services with Euro Garages.”
Michael Shebson of Delta Properties said: “We congratulate Barwood Capital on this purchase and for its proposed tie-up with Euro Garages. Working with South Gloucestershire Council, this should bring much needed facilities to the Enterprise Area. Whilst Central Park is now sold, Delta Properties still has significant remaining landholdings in the area, all of which benefit from the same historic planning consents, and we look forward to facilitating their development in the near future.”
David Myers of Euro Garages said: ‘We are delighted to be collaborating with Barwood on this project at a strategic location within our network. As a roadside retail market leader, we shall seek to deliver quality design features, high profile brand partnerships, new permanent jobs and requisite amenities to serve the diverse range of employees at Central Park.’
British Ensign Estates, BNP Paribas and Barber Wadlow acted on behalf of Barwood Capital; Knight Frank and GVA acted on behalf of Delta Properties.
Letting agent for The Junction will be BNP Paribas. British Ensign Estates will be Asset Manager for the 2017 Fund. PRC Architects has undertaken the design and planning consultancy.