Express delivery company City Link has expanded its operations in the West with the acquisition of a new regional distribution centre near Bristol.
The parcels company has taken the 66,753 sq ft building from owners Prudential and Capital Shopping Centres on a 10-year lease, at an undisclosed rent.
Employees from City Link's existing branch at Patchway have been relocated to the new depot, which is on 4.84 acres next to The Mall regional shopping centre at Cribbs Causeway. The building has undergone a major refurbishment.
Paul Hobbs, industrial agency director at GVA, who acted for Prudential and Capital Shopping Centres, said the deal showed the market for existing good quality distribution space in the South West was holding up comparatively well, against the uncertain economic backdrop.
“In certain size ranges there is very limited standing stock, and that is now really halting some companies’ aspirations to expand," he said. "City Link operates in a noted growth sector; home delivery and retailer support. A further local example of this has been Ocado taking 30,000 sq ft at Avonmouth, and on a wider scale, Amazon.co.uk committing to over 1 million sq ft in the UK over the last 12 months.”
GVA's Bristol office jointly acted with HTC. City Link was represented by Meyrick Commercial.
