Aviva Investors is to spend £250,000 on refurbishing Kings Business Park in St Philips, Bristol to enhance the available warehouse units.
The park is located within Bristol’s core distribution hub on the established Feeder Road and currently has units available from 5,586 - 17,343 sq ft (518 - 1,611 sq m). A FTSE100 distribution company has recently renewed its lease at Unit 7 taking a 10-year term leaving three units available.
Robert Cleeves, director of industrial agency at Savills Bristol said: “Kings Business Park offers well located, modern industrial premises ideally suited to a range of trade counter and distribution operators.”
Rob Russell of Russell Property Consultants said: “The level of further investment in the property by Aviva Investors clearly demonstrates their commitment to the site and as a result we are experiencing good levels of occupier interest with refurbishment works under way.”
According to a Savills commissioned report on e-tailing and the impact on distribution warehouses, retailers could take up to 49.5 million sq ft of warehouse space over the next five years. That is 21per cent higher than the previous five years, which had an average take up of 41.3 million sq ft. Of that predicted take-up, 25 per cent of it or 12.5 million sq ft will be driven by e-tailing.
Savills and Russell Property Consultants jointly represent Aviva Investors.
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