Just a single unit remains at Beeches Industrial Estate in Yate, Bristol, after protective clothing specialist Bristol Uniforms agreed a 10-year lease on 14,037 sq ft of industrial space in an expansion of its existing operations.
The company, which designs and manufactures uniforms for firefighters, will move into Units 9-10 in May 2018. It already occupies 28,395 sq ft of space in Units 11-14 on Beeches, but requires additional space for storage of its products.
Colliers International acted jointly with JLL on behalf of DTZ Investors. Bristol Uniforms was unrepresented.
Only Unit 7-8 now remains available at Beeches, which is one of the leading industrial and warehouse locations in the Bristol area.
Unit 7-8 comprises 14,066 sq ft, and offers an open plan warehouse with loading access via two roller shutter doors on the rear elevation. The Unit has benefitted from significant investment by the Landlord for refurbishment works, these include a new roof, LED lighting throughout and the creation of an additional car parking area to the front elevation The property also benefits from a new offices, WC’s and kitchenette facilities positioned at the front of the unit.
Tom Watkins, Associate Director in the Industrial and Logistics team in the Bristol office of Colliers International, said the refurbishment had further enhanced the popularity of Beeches, which is set in landscaped surroundings and well-positioned for access to the M4 and M5 motorways as well as the city centre.
“When DTZ Investors acquired Beeches in 2015 there were seven voids. Now only a single unit remains and rents have grown by around 20% across the estate,” he said.
“Vacancy rates are at an all-time low; currently only 4% of total stock in Bristol, and you only have to drive around the local estates and witness the lack of agency boards to confirm this.
“Beeches has always been a popular estate given its ease of access onto the M4/M5, and the recent high-quality refurbishment undertaken by the Landlord has further enhanced its appeal. We expect the remaining unit to attract interest from a range of potential occupiers, especially given the potential to create a secure yard at the rear.”
Elliot Herbertson, Asset Manager at DTZ Investors said: “Beeches has been a great success story with an excellent run of lettings which reflect the quality of this estate, and the shortage of industrial stock in Yate and generally across Bristol.
“We are very pleased with quality of the refurbishment which has brought the specification of the unit up to modern standards and significantly improved its energy efficiency.
“Given the limited availability of industrial premises in the immediate area, we have already received a number of enquiries for the property, even though we haven’t formally brought it to the market. Now the unit is ready for immediate occupation, we hope to convert some of this interest very soon.”