Fiera Real Estate and Cubex have secured planning permission for a £25m (GDV) 156,000 sq ft Grade A logistics scheme on a 12-acre site near Highbridge.
The site, which sits adjacent to the M5 south of Bristol, was purchased unconditionally in 2021 on behalf of Fiera Real Estate Opportunity Fund V UK.
The scheme is targeting BREEAM Excellent and an EPC A rating, and will include electric car charging points and energy-efficient lighting, heating and cooling.
Joe Downey, managing director of Cubex, said: “We have worked hard with the local planning authority to secure consent for this high-quality scheme which is designed to meet the needs of local, regional and national businesses in the wider M5 market. Vacancy rates continue to remain low and demand is very strong for what will be one of the most sustainable speculatively developed schemes in the market. We are looking forward to starting onsite to deliver the scheme.”
Chris Button, head of value add at Fiera Real Estate, added: “We are delighted to have secured planning for this this strategic logistics site with Cubex – in a superb location, it is able to service the population of the M5 corridor with ease and in a highly sustainable way – it ticks all the boxes.”
