Commercial property specialists at Colliers International’s Bristol office together with joint agent GVA have signed off the biggest warehouse deal in years at Cabot Park in Avonmouth.
Yankee Candle has taken the 170,000 square foot 4mation unit, which has been vacant for the past two years.
Head of the Colliers Bristol office Tim Davies said: “The Yankee Candle deal will reinvigorate industrial take up in the West, which has been increasingly dominated by smaller deals in the 5-10,000 sq ft category.
“Avonmouth is one of the leading distribution hubs in the country ticking all the boxes for national firms looking to re-locate.
“We are seeing many national firms – especially in the expanding e-retailing market - returning to the industrial sector to ensure they have adequate logistical support to deal with a widely forecast return of consumer confidence.”
Major manufacturing and distribution occupiers in Avonmouth include Robert Wiseman Dairies, Superdrug, Honda, Keuhne and Nagel, Accolade Wines, John Lewis, Avon & Somerset Police and DSV.
Colliers International and joint letting agents GVA acted on behalf of Standard Life, achieving a rent of £6 per sq ft on a new 15 year lease.
Paul Hobbs of GVA said: “Remarkably, this was one of only two newly built units standing over 20,000 sq ft south of Birmingham. With this building committed, we all hope that the outcome will be a resurgence of the design and build market offering opportunities for many supply businesses in this region.
“Severnside is a radically different place from ten years ago and will be a major development hotspot for the UK in the next five years.”
Yankee Candle – who were advised by Williams Gunter Hardwick - is the world’s leading manufacturer of home fragrancing products with specialist knowledge of the retail sale of its products both in store and online.
The company will use the Avonmouth base as its national distribution centre and is planning to add a further 7,500 sq ft to the existing 6,000 sq ft of office space.
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