Chancerygate has acquired a five-acre site in Avonmouth, Bristol, on which it intends to speculatively develop 135,150 sq ft of Grade A, sustainable urban logistics space.
The site was purchased from supermarket chain Farmfoods for an undisclosed price.
The circa £35m GDV Kestrel Park scheme, which is located on Palmer Avenue in the established Central Park industrial estate, will comprise six units ranging from 16,450 sq ft and 33,400 sq ft.
The units will be available on a leasehold basis and Chancerygate is targeting a BREEAM Excellent rating for the scheme.
The site already has planning consent for industrial use and Chancerygate intends to commence construction of the units in spring next year.
Tom Faulkner, development director at Chancerygate, said: “Acquiring this site in Avonmouth, just off the new M49 junction, is a fantastic opportunity for us provide the high specification, sustainable multi-let industrial accommodation we consistently deliver across the UK. There is high demand from occupiers across Bristol and the surrounding areas for high quality, Grade-A space in well-connected, established industrial locations. Our Kestrel Park development will meet this demand and provide occupiers with units in an unrivalled strategic location to serve both the locality and the wider South West region.”
Russell Property Consultants advised Chancerygate on the transaction and Knight Frank acted for Farmfoods. The joint agents for Kestrel Park are Russell Property Consultants and Knight Frank.
