M5 development scheme is ‘a dream come true’

June 16, 2011

The strength of the demand for commercial property near the M5 has been underlined by national commercial property developer Gladman Developments which is describing its Portis Fields business park at Portishead as ‘a dream’.

The company, which builds office parks close to motorway junctions all across the country, has just one building left for sale or to let on the Portishead development, which comprises 16 offices ranging from 1,035 to 10,070 sq ft.

Gladman's Romy Silvers said:  "Of all our office developments in the South West – and even measured across the country – Portis Fields has been a dream, with companies keen to own or let, or both, in Portishead.  Now we have just one unit remaining – and when it’s gone it’s gone, as they say.”

The park is being jointly marketed by DTZ and Lambert Smith Hampton.  Phil Moore of DTZ said: “The remaining building for sale or lease is 5,250 sq ft with 22 parking spaces and is offered with a quoting rent of £15.50 per sq ft or £180 per sq ft freehold.”

Peter Barrett of Lambert Smith Hampton added: “Offices on this site are popular because of the unusual location – close to the M5 and Bristol, handy for the shops, cafes and bars of Portishead, yet with a riverside location overlooking green fields. It’s a powerful combination.

Meanwhile Tim Davies, head of Collier's Bristol office, agrees high demand and lack of significant new buildings has kept demand for commercial property in the Avonmouth/Severnside area buoyant and has helped achieve some returns way ahead of national averages.

Avonmouth and Severnside is one of six areas identified by the West of England LEP as an Enterprise Area. This offers a range of incentives including the abolition of stamp duty on business transactions, a 25 per cent community investment tax credit and relaxation of planning rules.


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