The first speculative industrial development in Bridgwater, Somerset, for a decade is set to get underway at the £150million Bridgwater Gateway business park.

Developers of the scheme have decided to press ahead with building 10 new industrial units ready for occupancy, in a move which has been described as forward-thinking.

“At a time when UK industrial availability is at an all-time low and the South West economy is going from strength to strength, the decision to build the first speculative industrial development in Bridgwater for around a decade reflects confidence in the UK’s booming industrial market, and in the regional economy,” said Tim Davies, head of the South West Industrial & Logistics team at real estate advisor Colliers International.

“This forward-thinking approach is in keeping with the initial decision to create a 100 acre landscaped business park off J24 of the M5, just 12 miles from the site of Hinkley Point C and in an area in which the local economy is expected to grow by 45% by 2030.”

Detailed planning permission is already in place at Bridgwater Gateway, and infrastructure and services on site are near to completion.

The speculative scheme, which is being marketed by Colliers International, will feature 10 industrial units from 5,000 sq ft each, with the capacity to consolidate units to accommodate larger requirements. Units of up to 300,000 sq ft are available on a design and build basis.

The state-of-the-art modern units will include first floor offices and landscaped, dedicated car parking to the front of the buildings to facilitate a better impression to visitors. At the rear of the buildings and accessed separately will be loading doors and parking areas for delivery vehicles.

Phil Wade, Development Manager at Bridgwater Gateway, said: “The unprecedented demand for prime industrial space and the strategic position of Bridgwater Gateway have combined to make this is an optimum time to go ahead and build without confirmed end users.

“By building speculatively we will be able to go beyond our initial aim of providing occupiers with fast track delivery of buildings within 12 months.

“It will also provide an opportunity to showcase the modern, customer-focussed design of industrial premises at Bridgwater Gateway, which will have separate areas for visitors and delivery vehicles and will provide an environment that is more attractive and safer than that of traditional industrial parks.”

Bridgwater Gateway, which is the newest business park development on the M5 corridor, has also been masterplanned to provide Grade A office space from 5,000 sq ft to 32,000 sq ft, a 150 bed hotel with conference facilities, and retail and roadside premises.