Bristol logistics hub deal points to upturn in industrial property market

October 28, 2013
By

Major South West transport company Gregory Distribution has relocated its Bristol warehouse operations to a recently-refurbished industrial unit on the Patchway Trading Estate, north Bristol.

In a move seen as further proof of market confidence, Devon-based Gregory has taken the 41,470 sq ft building – One Highwood Road – on a 10-year lease at a rental of £4.95 per sq ft. Landlord La Salle Investment Management has recently spent £300,000 upgrading the building.

Joint agents for Patchway Trading Estate, Knight Frank and Hartnell Taylor Cook, promote the estate, close to junction 17 of M5, as “the South West’s best distribution location”. It has become a magnet for major logistics firms such as NFT, Parcelforce, Ceva, Samworth Brothers Distribution and City Link.

Knight Frank’s industrial partner in Bristol, Russell Crofts, said: “It is great to welcome to Patchway such a well-known name in the South West distribution sector.  La Salle Investment Management’s confidence in the market has been repaid.

“It demonstrates how the trading estate continues to be an important location for high street distribution in the region, and its location close to junction 17 of the M5 is one of the best in the area.”

Gregory Distribution managing director Andy Walker added: “We are delighted to have secured this facility for our Bristol-based operations, which will allow us to provide additional services to our customers.” It previously operated from a site at Avonmouth.

Privately-owned Gregory Distribution, founded in 1919, operates from 17 sites from Scotland to West Cornwall, and has 450 trucks, 1,450 employees and an annual group turnover of over £130m. The firm was advised by Jones Lang LaSalle.

 

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