Viridor Waste Management, one of the UK’s leading recycling, renewable energy and waste management companies, has sold its waste management site located in North Bristol to South Gloucestershire Council in a deal brokered by property adviser BNP Paribas Real Estate.
The site is currently an active waste management centre comprising three buildings with the opportunity for future redevelopment. Viridor will remain in the premises until March 2021 and lease back the property from the council. It will then relocate to a newly constructed facility.
The North Bristol site benefits from excellent connectivity with easy access to the A38 and M5, and is situated only five miles north of Bristol city centre. The immediate environment surrounding the waste management centre is primarily office and industrial users occupied by the defence and aerospace sector. Local occupiers include Safestore, BAE, Airbus and Rolls Royce.
Josh Gunn, Head of South West Industrial and Logistics at BNP Paribas Real Estate commented: “We witnessed very strong occupier interest for the site right from the very start of it coming to market. This clearly demonstrates the lack of supply of well-located sites with close proximity to Bristol city centre.”
“The combination of the scarcity of sites suitable for occupiers on the market, combined with a strong appetite for commercial development land, ensured that we achieved in excess of the quoting price. There are also a number of developments currently underway in the area for residential, commercial and industrial uses, which shows the attractiveness and economic strength of the location.”
Chris Lynn, Head of Collections in the South West at Viridor said: “We are pleased with our new leasing arrangement which will see us through to 2021. It enables us to keep our Bristol Collections Fleet in situ in North Bristol until our newly-developed premises are ready.”