Richardson Barberry has completed the construction and sale of a £78m prime logistics park at Avonmouth, Bristol, to Tristan Capital Partners.
The joint venture between developer Barberry and the Richardson family – a private, family-owned, and operated property business – recently reached practical completion on 382,825 sq ft across six units as part of phase two of More+ Central Park – phase one, consisting of 176,393 sq ft, completed in 2020.
The development was sold in an off-market deal to CCP 5, a fund advised by Tristan Capital Partners, before construction of phase two got underway.
Jonathan Robinson, development director at Barberry, said: “The completion of More+ Central Park marks a major milestone for Richardson Barberry and we are incredibly proud of what we have created. It is a trophy asset and its sale to Tristan Capital Partners was the largest mid-box multi-let industrial and logistics deal in the South West for many, many years.
“Having acquired this site off market and completing the purchase within 28 days, we had a vision for the site which we have crystalised and delivered our ambitious business plan, creating a new market leading mid-box logistics park at Central Park, Avonmouth. It has been a fantastic development to be involved in. It was the first mid-box development at Central Park and was a pioneering move to deliver such buildings in this location. The success of the scheme is demonstrated having attracted quality occupiers and achieving aspirational rents.”
