A major new logistics development is set to be established in Bristol, covering 1 million sq ft.
The scheme will be spread across a 60-acre site at Avonmouth, the city’s port, which is located on the north-western edge of Bristol where the Avon flows into the Severn Estuary.
Developers BentallGreenOak and Equation Properties have secured the site for an undisclosed amount, with the plan being to develop the site in three phases. The first of these will be completed in the summer of 2022, Real Assets reports.
The managing partner and head of European Equity at BentallGreenOak Toby Phelps explained that investment in freight logistics solutions is now the highest priority it has been since the firm first became involved in the sector in 2015, providing “compelling fundamentals” to justify spending on developments of this kind.
He explained: “The covid pandemic has accelerated certain behaviours, such as consumer reliance on e-commerce, which mean that these assets are now in higher demand than ever.”
Avonmouth is a prime site as a major port for the city of Bristol and south west of England region, making it a major logistics hub. Its location is also significant due to its rail links and the M5 and M49 motorways, providing swift road freight connections to the Midlands and Wales. The port is run by the Bristol Port Company.
The partnership between the firms is also planning a development of similar dimensions on the edge of Ipswich, reports Logistics Manager.
Set to be named Orwell Logistics Park and located next door to Ransomes Europark, the site will consist of four units and will be built on a phased basis. Construction work is already underway and the first phase is expected to be finished in the spring of 2022.
Situated on the eastern fringe of the Suffolk town, it lies just eight miles from the port of Felixstowe.