Bridgwater’s first speculative industrial development in a decade set to get underway
The first speculative industrial development in Bridgwater, Somerset, for a decade is set to get underway at the £150 million 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.
Tim Davies, head of the Industrial & Logistics team at real estate advisor Colliers International said: “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.
“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 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 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.”