Another two units have been sold at the speculative Apollo Park development in north Bristol, underlining the high demand for quality industrial space in the Bristol area.
The latest sale is of Units 8-9 to Elondale Ltd, who trade as First Quality Foods. They have purchased both units with the intention to consolidate them to provide a total of 9,152 sq ft.
Only Units 1-4 now remain available for sale or lease at the 6.5 acre Apollo Park, which was launched last year by developer Chancerygate, which is represented by real estate advisors Colliers International and JLL.
Tom Watkins, senior surveyor in the Industrial & Logistics team at Colliers International, Bristol, said: “Apollo Park is one of the few developments in the region to have been built in recent years without end user commitment, and it is now 90 per cent occupied.
“This very much reflects the high demand for quality industrial space in the Bristol area, and the fact that this is this is a superb scheme which offers the opportunity to purchase or lease these newly-built units.
“An increasing number of occupiers are choosing to purchase and take advantage of current favourable rates for commercial mortgages, as well as enjoying the benefits of ownership of industrial property, which is forecast to be the best performing commercial property sector for investment this year.
“We already have a number of strong expressions of interest on the last four available units at Apollo Park, which can be offered either individually or consolidated to accommodate larger requirements.”
First Quality Foods joins a range of occupiers at Apollo Park, which is located on the established Great Western Industrial Estate in Yate. The estate has good access to Junction 18/19 of the M4 motorway, and Junction 14/15 of the M5 motorway, and into central Bristol on the A432/ M32.
In Apollo Park Phase One, Unit 5 was recently let to Colonna Coffee, and Units 6-7 are under offer to a single occupier. Unit 10 was sold to Jackson Lift Group; and the two largest units in Phase One, Units 11 and 12, have been let to elite performance cycle company Saddleback. Phase Two, a 60,000 sq ft unit, was sold off plan to timber import and distribution company James Latham.
Victoria Mann, asset manager at Chancerygate, said: “This latest deal at Apollo Park enhances the existing strong tenant line-up at this contemporary and well-located estate.
“We have been delighted with the high levels of interest from prospective tenants seeking quality premises, which has very much confirmed Chancerygate’s decision to build speculatively.”
“We’re aware there is such a limited supply of available units in the locality, as well as generally across Bristol, so we do not anticipate Units 1-4 being on the market for too long.”