Graftongate, the wholly owner-managed commercial real-estate investor and developer, has commenced construction of a £10 million development known as Gloucester 12.
“This is the final phase of Gloucester 12 which will comprise four industrial/warehouse units totalling 123,500ft2,” commented Phil Silk, Managing Director of Graftongate. “Having recently completed the infrastructure works and secured planning permission, we have decided to speculatively build these units given the strength of the market and having identified a lack of supply particularly of the sizes being built.”
Gloucester 12 already incorporates a 120,000ft2 warehouse unit sold to International Plywood. The four units being developed will comprise 17,516ft2, 26,465ft2, 38,227ft2 and 41,288ft2 incorporating a high level of sustainability to include air source heat pumps, a sustainable drainage system, higher than regulation insulation and electric vehicle charging points all helping to achieve a BREEAM ‘Very Good’ rating.
“These units are scheduled to be completed in November and will be constructed to a high standard, above institutional standards, to include 12m to underside of haunch for the largest unit with a substantial level of power available to the site,” added Myles Wilcox-Smith, Partner at M1 agency and Edward Jenkinson, Senior Surveyor at Bruton Knowles, joint letting agents for the scheme.
Gloucester 12 occupies a prime location adjacent to Junction 12 of the M5 motorway and as such with easy access to the national motorway network.