Industrial warehouse developer Tungsten Properties has acquired 25 acres of land at Avonmouth, Bristol.
Funded by British Airways Property Fund, the property developer has 25 acres of land at Severn Road, Avonmouth, Bristol from Delta Property Holdings for £11 million.
The scheme is across two plots to the north and south of Severn Road and will accommodate a 457,000 ft2 logistics scheme across six buildings, ranging from 16,000 ft2 to 240,000 ft2. The developer estimates that the project will create more than 300 new jobs.
Tungsten Properties is set to deliver phase one which will be two industrial units totalling 80,000 ft2 and 240,000 ft2. Construction is due to start in September 2021 and the two buildings will be completed by summer 2022.
Six new units commissioned at Avonmouth Financial backers have opened the door to a 457,000 sq ft mixed box logistics scheme at Avonmouth.
The 25-acre site at Severn Road will see six new buildings, ranging from 16,000 sq ft to 240,000 sq ft.
The first phase will be two industrial units totalling 80,000 sq ft and 240,000 sq ft. Construction is due to start in September 2021 and the two buildings will be completed by summer 2022.
Phase two will be four smaller buildings which will range from 20,000 sq ft up to 62,000 sq ft to total 125,000 sq ft.
The development has been accelerated by funding from British Airways Pension Trustees, who funded the £11 million site acquisition for Tungsten Properties.