Standard Life Investments has bought a 53,000 sq ft warehouse in Bristol which it plans to refurbish and re-let.
A 53,000 sq ft logistics unit, most recently occupied by the Royal Mail, has been bought by Standard Life Investments.
The £550,000 refurbishment of Unit 2 at Interplex 16 is set to complete in May 2016. It will provide 53,000 sq ft of warehouse and ground and first floor integrated office accommodation, 21.7 ft clear eaves, four ground level loading doors and a secure concrete service yard with ancillary car parking.
The unit, recently occupied by the Royal Mail on a short-term basis, sits on a secure 2.22 acre site overlooking the Almondsbury Interchange and half a mile from Junction 16 of the M5.
Alder King and Knight Frank have been appointed agents on the scheme.
Andrew Ridler, partner at Alder King in Bristol, said: “The availability of a newly-refurbished mid-range unit will be very welcome news indeed for the market. We’ve seen a significant increase in demand for units in the 25,000 to 75,000 sq ft size range but, with supply at a 12 year low, there are few options.”