Horizon38 marks an end to Bristol’s industrial property drought
One of the largest speculative commercial developments ever seen in Bristol is continuing at Horizon38 – the new employment scheme currently being built at the former Rolls-Royce East Works site in Filton.
The project combines factory and distribution buildings totalling 580,000 sq ft with a further 25 acres of mixed employment space including new offices, trade warehouses, motor trade outlets and a new landmark hotel by Village Urban Resorts.
The scheme will ultimately support the supply chain of neighbouring aerospace industries, and complement the YTL development of the former Filton airfield situated on the opposite side of the A38 where 2675 homes are planned.
The first occupiers are already moving in, with Selco Builders Merchants due to open their store in November this year. Construction starts imminently on the new 153 bed hotel, while 210,000 sq ft of warehousing is currently available to let. Big improvements to the local road network are also being undertaken.
Paul Hobbs at GVA, joint letting agent on the scheme with JLL, observes that Horizon38 is a positive injection into the Bristol and regional property market, which has been suffering from a declining supply of good quality space for growing employers since 2007.
He said: “A lack of site options outside Avonmouth, together with the wider economic downturn, led to a serious lack of investment and opportunity in the region’s industrial stock, leaving occupiers with little or no choice when it comes to relocation or expansion in the traditional employment areas.
“Representing a £120 million project, Horizon38 marks an end to this property drought. With 320,000 sq ft of quality space reaching completion, occupiers now at last have the chance to benefit from this renewed activity in the market. Two units are already under offer on the scheme with some very high-profile enquiries being received.
“Filton has always been at the hub of Bristol’s economic growth, with its strong aerospace and engineering credentials, this is set to continue as Horizon38 takes shape.”