Work is to start on a £43m speculative warehouse development at Avonmouth following the sale of the 20-acre site.
Midlands-based developer Stoford has acquired land at Delta Properties’ Central Park development.
Construction of more than 400,000 sq ft of space is to start later this month, it said, as demand for largescale warehousing in the area continues to grow.
The site, part of Delta Properties’ 350-acre Central Park scheme, neighbours another Stoford project – the £90m 1.2m sq ft regional distribution hub being built for homeware retailer The Range on a 55-acre site.
It is also close to the 33-acre site acquired by fast-growing supermarket group Lidl in April for a 600,000 sq ft regional distribution centre, which will replace its existing base at Weston-super-Mare.
The latest scheme is being undertaken by privately-owned real estate development and investment company Mountpark Logistics with Birmingham-based Stoford acting as development partner.
It will include buildings of 200,000 sq ft, 120,000 sq ft, and 80,000 sq ft, which already have detailed planning consent. Northampton-based Winvic Construction has been appointed as main contractor and completion is scheduled for next spring.
Stoford director Tony Nash said: “This is an exciting development which gives potential occupiers a choice of three units. Careful design gives the potential to combine any of the units.
“We believe these will be in high demand as has been the case with our other speculative developments with Mountpark Logistics.”
Central Park, the South West’s largest scheme of its kind, is 4.5miles from the M48, which links it to the motorway network and brings 85% of the UK within a 4.5 hour drive.
It is also six miles from Avonmouth Docks and has a direct rail link. Plans are in place to put in a new junction on the nearby M49 which would give it direct motorway access.
It is already home to frozen food retail chain Farmfoods’ 175,000 sq ft temperature-controlled distribution centre and pallet firm CHEP UK’s 50,000 sq ft distribution and repair centre.
The new speculative development is the latest in a series of deals between Stoford and Mountpark Logistics, a joint venture between developer Mountpark and the United Services Automobile Association (USAA), one of the US’s largest institutional investors.
The two have already joined forces on major industrial and warehouse schemes at Wakefield Europort in Yorkshire and at Airport City, Manchester.
Michael Shebson of Delta Properties added: “So soon after bringing both The Range and Lidl to our scheme, this is a further vote of confidence in Central Park from an internationally recognised developer. We look forward to working with Mountpark and Stoford as they deliver this significant speculative development for the benefit of the south west.”
Mountpark Logistics is a joint venture between Mountpark and the United Services Automobile Association (USAA), one of the US’s largest institutional investors.
Property agents Knight Frank and Bilfinger GVA acted for Delta Properties.
Pictured: Aerial view of the site at Central Park, Avonmouth
