Bristol warehouse let in off market deal
Falcon Timber has secured a 30,000ft² warehouse in Bristol in an off market deal.
This is the latest in a string of acquisitions by Falcon Timber over the last five or six years which sees its expansion countrywide as Managing Director – Distribution and Product Group Steve Whysall explained: “Falcon Timber has been servicing customers in the South West for many years, mainly through our depots in High Wycombe and Birmingham. To truly offer existing and prospective customers the service levels and range of product expected from a Falcon Timber customer, a permanent presence in this part of the country was required.
Last year the timber products specialist relocated its Birmingham distribution centre to a new facility totalling 40,000ft².
Property advisor Tim Gilbertson of FHP said: “Nothing was available on the market that suited but by approaching developers and investors throughout the region we were able to source an off-market opportunity and be the first occupier on this prime site in exactly our client’s preferred part of the region.”
The unit is on Central Park and has been taken on a £2.6 million lease on a ten year term reflecting a rent of around £8.60 per ft².
FHP Property Consultants, Mills & Reeve and Gaskell Associates advised on the deal.