In a significant move for the South West's industrial property market, developer Chancerygate has secured a prime five-acre site in Avonmouth, paving the way for a major new logistics scheme.
Acquisition and Development Plans
The property firm has purchased the land on Palmer Avenue from supermarket chain Farmfoods. The site, known as Kestrel Park and situated within the established Central Park industrial estate, already has the necessary planning consent for industrial use.
Chancerygate is now moving forward with a £35 million development that will see the construction of six high-specification logistics units. The spaces will range in size, catering to a variety of occupiers, with units from 16,450 to 33,400 square feet.
Strategic Location and Market Demand
Tom Faulkner, Development Director at Chancerygate, highlighted the strategic importance of the location. He stated, "Acquiring this site in Avonmouth, just off the new M49 junction, is a fantastic opportunity for us to provide the high specification, sustainable multi-let industrial accommodation we consistently deliver across the UK."
He further emphasised the high demand from occupiers across Bristol and the surrounding areas for quality, Grade-A space in well-connected locations. The Kestrel Park development is positioned to meet this need, offering an unrivalled base to serve both the local area and the wider South West region.
The site's connectivity is a key selling point, being less than half a mile from the new Junction 1 of the M49 motorway. It also offers close proximity to the M4 and M5, and is just a 30-minute drive from Bristol city centre. The area is already home to major names including Waitrose, Amazon, Lidl, The Range, and Farmfoods.
Timeline and Sustainability Credentials
The project timeline is now firmly in place, with construction work expected to commence in the spring of next year. The first occupiers are anticipated to take up residence in their new units during the fourth quarter of 2026.
In a commitment to environmental standards, the units at Kestrel Park will be available on a leasehold basis and will target a BREEAM 'Excellent' rating, signalling a focus on sustainability and energy efficiency.
The acquisition price for the Avonmouth site remains undisclosed. Russell Property Consultants advised Chancerygate on the transaction, while Knight Frank acted for Farmfoods. Both firms will also act as the letting agents for the newly developed Kestrel Park.
This new scheme adds to Chancerygate's growing portfolio, which currently includes approximately 2.1 million square feet of urban logistics space under construction or ready for development across 13 sites in the UK.
