British Airways Pension Trustees Limited has financially helped Tungsten Properties (a mid-box industrial and warehouse developer) to acquire land at Avonmouth. Approximately 25 acres in Severn Road is now purchased for £11 million from Delta Property Holdings.
A logistics scheme is being planned across two plots of the North and South of Severn Road site and will aim to accommodate a 457,000 sq ft (42,456 sq m). Over six buildings will be raised while the project is estimated to create over 300 new jobs.
Tungsten Properties has committed to deliver phase one, which will consist of two industrial units of 80,000 sq ft 240,000 sq ft. September 2021 is the expected date of construction to start while the two buildings should reach their completion by Summer 2022.
Avonmouth is a well-known and well-established South-West distribution location. It has been thriving for different constructions such as ports with great links to the M49 and M5. Occupiers include Amazon, Tesco, Lidl, DHL, The Range, Next, Coop, Asda, and Accolade Wines.
It is also the fourth deal where British Airways Pension Trustees has funded Tungsten Properties. Super B in Bradford, Super W in Warrington, and Calder Park in Wakefield are the three other projects being funded.
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