24th June 2014
Strong demand prompts speculative industrial scheme at Caxton Business Park
Axten Properties and Blue Marble Properties have commenced construction of five starter business units totalling 15,000 sq ft at Caxton Business Park in the Warmley area of Bristol. The scheme, one of the first speculative industrial developments in the city for five years, will be available from this autumn and will help address strong demand for quality production/distribution space.
Axten/Blue Marble Properties, advised by Alder King, already has Unit 2 under offer to a manufacturing business and will develop the other four units, which range in size from 2,900 – 11,720 sq ft (279 – 1,115 sq m), speculatively.
Emma Smith, surveyor at Alder King in Bristol, says: “The return of speculative development in the industrial market is a clear indicator that the economic tide has turned. With very few new buildings coming on stream in the last five years or so, occupiers have little choice when looking for new accommodation.
“This development at Caxton Business Park will be one of the first new schemes capable of meeting the resurgence in demand for quality modern industrial space.”
The site, formerly home to Lawson Marden Packaging, was acquired and cleared for redevelopment four years ago. Last year, Axten/Blue Marble Properties secured a pre-sale on part of the 2.4 acre site to WBC Automotive for the development of a 20,000 sq ft (1,858 sq m) modern workshop and office facility to facilitate further expansion and create new jobs.