Construction work on one of the first speculative industrial developments in Bristol for five years started as confidence returns to the market.
The five starter business units, totalling 15,000 sq ft, are being built at Caxton Business Park in Warmley on the former Lawson Marden Packaging site.
The 2.4 acre site was cleared for redevelopment four years ago and owners Axten Properties and Blue Marble Properties last year secured a pre-sale on part of it to WBC Automotive for a 20,000 sq ft workshop and office facility to meet its expansion plans.
The latest scheme is aimed at addressing strong demand for quality production/distribution space in the area.
One of the units is already under offer to a manufacturing business. The four other units, which range in size from 2,900 sq ft to 11,720 are being built speculatively and will be available from this autumn.
Emma Smith, surveyor at Alder King in Bristol, which is advising the developers, said: “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 had little choice when looking for new accommodation.
“This development will be one of the first new schemes capable of meeting the resurgence in demand for quality modern industrial space.”
Pictured: Steel framework going up at Phase 2 of Caxton Business Park in Warmley
