iSec and St Francis secure record South West Industrial let
30 August 2018
The South West’s largest industrial letting this year has been secured by MSF Filton Limited, a joint venture between property developers iSec and St Francis Group , at its Horizon38 scheme in Bristol , rewarding its commitment to the city .
The 115,000 sq ft speculatively built unit in the new Filton development area, has been let to long-established Bristol firm Apec Braking in a deal which both underlines the demand for high-spec new build warehousing in the region and the strength of the city for inward investment.
Alliance Automotive Group owned Apec Braking, currently based in two sites in Yate, South Gloucestershire, is a leading UK automotive parts supplier. It will be using the unit as its national distribution centre and HQ.
This has been one of the largest single speculative warehouse units ever to come onto the South West market, built to respond to a complete lack of standing stock following rapid logistics space take up since the recession.
Paul Hobbs of GVA , joint agent on the scheme with JLL comments, “The high-quality specification of the units at Horizon38 and the attractive mixed-use nature of the location is exactly what the market is demanding at the present time. There’s been a lack of any quality big shed supply in the regional property market over recent years, and now, as the demand from the likes of logistics and distribution companies increases for urban locations, Horizon38 meets that need precisely.
“The pent-up demand for Grade A quality space has led to MSF Filton’s speculative commitment really paying off with the largest single unit on-site being let to a high-calibre occupier in Apec Braking.”
Apec Braking now joins other occupiers at the 60-acre Horizon38, one of the biggest mixed-use schemes of its kind in the UK, including a Selco Builders Warehouse, CEVA Logistics, LSi and Urban Village Resorts hotel.
Sitting within the Filton Enterprise Area, Horizon38 combines industrial and distribution buildings totalling 580,000 sq ft with a further 25 acres of mixed employment space.