Epta Development Corporation (EDC) and Stoford have received planning permission for a 2m sq ft logistics scheme in Avonmouth, Bristol.
EDC purchased the 101-acre former AstraZeneca site in December 2020 and appointed Stoford as development partner to deliver the scheme, which will be known as Axis Works.
The masterplan for the site includes a circa 1m sq ft building and three units ranging in size from 273,000 sq ft to 348,000 sq ft. Stoford is targeting BREEAM Excellent, an EPC A rating and net carbon zero in construction.
Chris Tsakumis, principal at EDC, said: “Receipt of planning to commence site works and initiate promotion of bespoke builds to the occupier market signals a major investment milestone. Since our acquisition in late 2020, we have worked closely with our team of UK consultants to envisage a masterplan that will meet the demands of modern occupiers with a programme of development focused on sustainability, flexibility, and innovation. We’re equally thrilled to have appointed best-in-class industrial developer Stoford as our delivery partner on this prime asset and our flagship project in the UK.”
Dan Gallagher, joint managing director at Stoford, added: “We’ve worked in close partnership with EDC over many months to secure planning consent for this hugely exciting scheme. Axis Works has the potential to become a world-class logistics and distribution park, creating jobs and economic growth in an already popular strategic location for logistics operators. We can deliver large scale, high quality accommodation with significant power, to suit a variety of occupier needs and anticipate significant interest in the scheme.”
EDC and Stoford were advised by the planning team at Gerald Eve and the scheme is being marketed by retained agents Knight Frank and CBRE. The site has already been cleared and it is anticipated construction of build-to-suit facilities will commence in Q1 2024.
