Delta Properties has completed a new transaction on Central Park III, Avonmouth – its latest project in Bristol.
Extending to 40 acres, Central Park III is Delta’s third successful foray into the Bristol land market.
The site is situated off Severn Road, and now has the benefit of new roads and services running to all plots. The project has been conceived to provide the much-needed supply of smaller plots of land to local businesses.
The first sale, plot J, has been sold to Barberry Industrial, which intends to build two warehouse units, of 44,500 sq ft and 13,800 sq ft, on the 4.23-acre site.
Barberry has considerable experience in the area, having previously purchased land from Delta to create More+ Business Park, on the successful Central Park, comprising an 11-unit mid-box logistics park capable of providing circa 560,000 sq ft of accommodation.
West Midlands-based Barberry successfully developed a speculative scheme on phase one More+, which included five warehouses now let to occupiers including Network Rail, SIG, Pilkington and Huboo.
They are now on site constructing phase two, comprising six units equating to 382,825 sq ft. Barberry’s acquisition of plot J represents a reaction to further occupier and investor demand in the area.
Delta Properties’ Michael Shebson said: “We are delighted to have concluded another sale with Barberry, who share our vision in transforming this area of Severnside. Together we continue to establish Bristol as the prime location for logistics throughout the region.”
Jonathan Robinson, development director of Barberry Industrial, said: “We are delighted to have concluded another purchase from Delta Properties on Central Park, the premier logistics location in the South West, and are very much looking forward to delivering our new scheme.
“We will be issuing further details on our proposed development in the coming weeks, but rest assured it will reflect the high quality of the buildings we have already delivered in the area.”
Barberry has a 3.3 million sq ft industrial/logistics development pipeline with a Gross Development Value of more than £400 million. The company has 455 acres of strategic land, with a development land value of £225 million, across 10 sites under its control, and a £30 million commercial and residential value add portfolio.
It is currently developing a £35 million precision engineering advanced manufacturing and design facility for a global leader in military and commercial engine controls systems in Gloucestershire. Work recently started on site to deliver the 184,000 sq ft centre of excellence for Moog’s Aircraft Controls Segment at Ashchurch, Tewkesbury.