The West Country
Bath & Somer Valley Enterprise Zone Leads Economic Development
Bath & North East Somerset’s newly adopted Economic Strategy sets out a fresh approach to economic development, which prioritises meeting the needs of residents and businesses whilst reducing impacts on natural resources and environment.
Work underway includes promoting opportunities for green and innovative businesses within the Bath and Somer Valley Enterprise Zone – 15 hectares of land across two locations: Bath Quays in central Bath and Old Mills, a greenfield site on the edge of Midsomer Norton in the Somer Valley.
The two sites are leading the future development of the region by offering a mix of office/research and development, industrial, distribution and ancillary uses, with the potential to create 3,000 jobs across a range of innovation, research and green sector industries.
The Somer Valley Enterprise Zone (SVEZ) at Old Mills will create an exemplar sustainable business park for new business and employment on 13.5 hectares of land located next to the A362, with direct access to the A37, which in turn connects to the south via the A303, and the north via the M4 and M5 motorways.
The adoption of a Local Development Order (LDO) for the Somer Valley Enterprise Zone in February 2024 allows a commercial mixed- used development over 12 plots with a total of 38,500 sqm floorspace.
Bath Quays is the council’s flagship 4.5 acre regeneration scheme at the heart of the City that will create a research, innovation and enterprise hub with more than 200,000 square feet of floorspace.
No 1 Bath Quays, the first new office building to be built in a generation in Bath, was completed in late 2022. The 44,500 sq ft five-storey Grade A office building boasts energy efficiency measures to reduce its CO2 emissions including a special coating on the windows to reduce heat loss and gain and 224 solar panels on the roof enabling on- site micro generation of electricity and EV charging to car spaces. The building benefits from an EPC ‘A’.
Bath Quays will also see the creation of a new destination with high-quality public realm, active ground floor retail and leisure uses overlooking the river. Sustainable travel links via new pedestrian and cycle travel routes will provide essential links to the city and the wider region. .
Plant-Ex Signs for Fourth Unit at St. Modwen Park Avonmouth
St. Modwen Logistics, one of the UK’s leading logistics developers and managers, has let a 43,000 sq ft unit to ingredients production company Plant-Ex at St. Modwen Park Access 18 Avonmouth.
Earlier this year, Blackstone announced that from July 2024, St. Modwen Logistics’ portfolio of assets will become part of Indurent, a new pure play UK logistics champion. The business will have more than 200 assets totalling 26 million sq ft of logistics space.
This latest letting underscores the longstanding partnership between St. Modwen and Plant- Ex and will see the manufacturer occupy its fourth unit at the site, almost doubling its total footprint to 75,000 sq ft.
St. Modwen Park Avonmouth provides 1.3m sq ft of warehouse space across 36 units and is set within mature landscaping that includes water features, cycle paths and footways linking to nearby residential areas, including Lawrence Weston.
Conveniently located on Avonmouth Way & Kings Weston Lane, the park also provides direct access to the M5/ M49 junctions 18/18a within 1 mile to the south, and to the M4/M5 interchange, approximately 7 miles to the north. Bristol City Centre is within 10 miles east via the A4 Portway.
Works Underway on Exeter’s Tithebarn Local Centre
The Local Centre will be a focal point for the community. It is less than a mile from Junction 29 of the M5 and in very close proximity to the free to use 300 space “Park and Change” facility.
A letting of part of the ground floor has already been secured with a national convenience store operator.
A high profile 1,100 sq ft unit suitable for either café or restaurant use is available on the remainder of the ground floor.
The first floor of the Local Centre will provide 4,780 sq ft of versatile accommodation specifically targeting healthcare or community operators. This first floor could be suitable for services such as doctors’ and dentist surgeries, physiotherapy, opticians, pharmacies or clinical hubs among other essential community uses.
The first floor and remaining ground floor space is being marketed by Alder King in Exeter.
Exeter Tithebarn Local Centre Work is underway on construction of the Tithebarn Local
Centre, located at Tithebarn Way, Exeter, EX5 2FN with practical completion anticipated in Q4 2024. undertaken by Exeter based Eagle One.
The development is being
The Local Centre will form a key part of the increasingly well- established and vibrant Tithebarn mixed use development area, which will comprise of over 1,600 houses, major commercial developments including Exeter Gateway Office Park and Exeter Science Park and a new hotel.
Alder King partner Noel Stevens said: “The healthcare industry is one of the world’s fastest growing markets, with demand for good quality, well-located space at a premium. This Local Centre provides a unique opportunity for a high profile, self-contained healthcare or community use in a prominent building within an established and growing community.”
Click here to view the brochure.
For more details please visit
www.alderking.com
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COMMERCIAL PROPERTY MONTHLY 2024
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