MORE DEVELOPMENT PLANNED AS AVONMOUTH INDUSTRIAL PHASE SELLS WELL AHEAD OF COMPLETION

St Modwen, the UK¹s leading regeneration specialist, has applied for planning consent for a further phase of development on its popular Access 18 scheme in Avonmouth, Bristol, which will comprise 35,000 sq ft of industrial space.

This follows the sale, prior to completion, of all three units totalling nearly 80,000 sq ft in the current phase where Richard Austin Alloys has acquired a 28,703 sq ft unit, Budget Greeting Cards has bought a 39,961 sq ft building and Flexipads UK has purchased a 9,682 sq ft unit. The units were acquired at an average of £90 per sq ft.

These sales are in addition to the 165,000 sq ft purpose-built distribution centre which catering equipment supplier Nisbets has acquired and is to move into in July.

Rob Skelston, senior development manager of St Modwen, said: Everything we have constructed in these initial phases has been taken. This is a very satisfying achievement and is an indication of the current strong demand.

“There is still capacity to develop a further 600,000 sq ft on the initial 55 acres released on this scheme. We have just applied for planning consent to develop another 35,000 sq ft which we will start in June and plan to have completed by the end of the year. The space will be developed speculatively and there is the ability to split it into units of 15,000 sq ft and 20,000 sq ft with flexible office content.”

Alder King and Knight Frank are letting agents.

For further information contact Rob Skelston of St Modwen (0117 3167780).

Issued by Paul Raymer of Howle Chapman Raymer (0121 313 1000).

Ref: MOD/50/08