Just over a year after Apollo Park in Yate was brought to the market as one of Bristol’s first speculative industrial developments in almost a decade, a deal has been concluded on the last remaining units.
The sale of units 1-5, which total 20,988 sq ft, to a private investor, means all units have now been sold or let on the 6.5-acre estate delivered by industrial developer Chancerygate, which is represented by real estate advisors Colliers International and JLL.
Tom Watkins, senior surveyor in the Industrial & Logistics team in the Bristol office of Colliers International said: “The sale of these final remaining units seals the Apollo Park success story and underlines the vision of Chancerygate in developing this site without end user commitment.
“We are delighted that Chancerygate’s decision to push the button and develop speculatively has been rewarded within a shorter timescale than originally envisaged.”
Watkins commented that a particular feature of deals at Apollo Park had been the high number of sales of units.
He said: “The industrial sector is set to end the year as the best performer among commercial property asset classes, so it is no surprise that occupiers and investors are increasingly keen to own industrial property, particularly given current favourable rates for commercial mortgages.”
Victoria Mann, asset manager at Chancerygate, said: “Apollo Park has been a great success story, and it is a real pleasure to see such tangible confirmation of Chancerygate’s decision to build speculatively.
“There is limited supply of available high-quality industrial space in north Bristol, and as a well-located modern industrial estate Apollo Park has attracted an excellent tenant line-up in an impressively quick timescale.”