BentallGreenOak has acquired a 60-acre development site in the South-West’s logistics location, Avonmouth, Bristol.
The company has partnered with Equation Properties for new 1m sq.ft. logistics development.
BentallGreenOak said the development site benefits from existing planning consent and is close to Bristol’s key transport links.
It will be developed by BentallGreenOak and Equation across three phases with units ranging from 40k sq.ft. to 560k sq.ft and the first units will be completed by the summer of 2022.
“Since we started investing in the logistics sector in 2015, we have not seen a market environment with such compelling fundamentals. The COVID pandemic has accelerated certain behaviours, such as consumer reliance on e-commerce, which mean that these assets are now in higher demand than ever. As one of the most experienced owners and operators of logistics property in Europe, we are focused on owning and developing state-of-the art assets to meet this demand and delivering sustainable risk-adjusted returns for our investors,” said Toby Phelps, Managing Partner and Head of European Equity at BentallGreenOak.