Construction has started on 580,000 square feet of industrial space at Horizon 38, marking the largest speculative industrial development in Bristol for 20 years.
First phase of the 65 acre £120M Business Park set to rise at former Rolls-Royce East Works site in Filton.
Joint venture partners and commercial property developers and investors, iSec and St Francis Group have today confirmed the completion of ground works ahead of schedule on Horizon 38, a major new 1 million sq ft mixed use development in Bristol together with the formal start of unit construction.
Buckingham Group have been appointed contractors on the development and moved onto site to begin work on the first phase of building works. It is expected that in this first phase of development a range of new industrial and distribution units will be ready and available for occupation by as early as July next year. They form part of a new 1 million sq ft mixed use development offering opportunities for industrial, warehousing, trade, office, hotel and car showroom development.
This project is the second time that iSec and St Francis Group have teamed up together to acquire and develop the former Rolls-Royce East Works site in Filton. Speaking about the announcement Mike Forster, Development Director iSec, said “This is a hugely significant project for Bristol. Horizon 38 sits in the heart of the Filton Enterprise Area regeneration site, a highly concentrated, high quality employment area and key UK investment location. Filton has a long and established successful history in advanced engineering, aerospace and defence, home to leading occupiers such as Airbus, Rolls Royce, GKN and the MoD.
The development of 580,000 sq ft of Industrial employment space is being built in four phases and funded by BP Pension Fund. Horizon38 will consist of 27 units, with the first delivery of completed logistics and manufacturing space coming on stream in the summer of 2017 with later phases completed in 2018.
Horizon 38 is a landmark strategic development site, directing fronting onto the A38 in Filton near the former Filton airfield, Airbus and Rolls-Royce Engines manufacturing plants. It sits within the Filton Enterprise Area; the largest and most significant regeneration and inward investment project in the south west and just 3 miles from Bristol city centre and less than 2 miles from the M5.
In addition to the industrial and distribution opportunities available, a 25-acre commercial park is being developed fronting onto the A38 anchored by a Village Urban Resorts and the developers hope, a range of car show rooms, self-storage and other trade counter users.
Also commenting Gareth Williams, Development Director at St Francis Group, said, “This is an exciting phase of development. With the entire site now cleared and levelled you can clearly see the scale of development proposed at Horizon 38. It is the first major employment scheme to come out of the ground in north Bristol for 20 years.
We’ve engaged with the local business community and look forward to working with them to satisfy their requirements for high quality new industrial and distribution accommodation and to welcoming new businesses into the area. For a long time local occupiers have struggled with little or no available stock. That’s all about to change now with the development at Horizon 38”
Giles Weir of JLL, joint letting agent on the development together with Paul Hobbs of GVA, said: ‘The scale of the development is indeed impressive and we are excited at the prospect of seeing this landmark scheme through to completion. The location is fantastic and the product will be of the highest quality so we are not surprised that initial levels of interest have been strong from industrial, logistics and trade occupiers alike.
The Bristol market is in need of new stock in all sizes ranges so having units from 3,800 – 115,000 sq ft makes Horizon38 the perfect solution.’