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the south west |


SOUTH GLOUCESTERSHIRE: OPEN FOR INNOVATION S


outh Gloucestershire offers an ideal location for high growth business to develop, with excellent transport infrastructure, high value clusters and an open approach to innovation and collaboration.


Located between Bristol and Bath, South Gloucestershire is an area of exceptional economic prosperity with one of the highest levels of employment in the UK, offering the perfect location for businesses to flourish.


South Gloucestershire is a


centre for excellence for high tech manufacturing industries and high value design such as aerospace, defence and advanced engineering.


South Gloucestershire is a centre for


excellence for high tech manufacturing industries and high value design such as aerospace, defence and advanced


engineering. Businesses in the area benefit from being located at the gateway to the South West with excellent transport links to national and international markets providing efficient access to customers and suppliers.


There are three Enterprise Areas in South Gloucestershire where the economic development team have a specific focus on working with the property industry to deliver employment growth: • In Severnside we have made the case for and worked with partners to bring forward a flood defence scheme and ecology mitigation plus the national prioritisation of a new junction on the M49. We have seen large scale development come forward such as Lidl, Mountpark, Davis Turner, DHL and the Range - delivering around another 3000 jobs into the economy.


• In Emersons Green we have established the Bristol and Bath Science Park as a premiere R&D location in the UK, promoting several schemes such as IAAPS, GO2 and Nucleate through the Combined Authority, and have also supported the delivery of ALD’s new UK


Headquarters providing 380 new jobs at Vertex Park alongside the new DPD depot with more occupiers to come.


• At Filton we have supported Concorde’s move to its new home at the Bristol Aero Collection, we’ve seen the Airbus Wing Integration Centre developed, due to open next year; and we’ve been working with developer YTL to ensure that the commercial space on the former airfield development is of very high quality, and reinforces the area’s USP.


Whether you are a potential investor or local business, the Invest in South Gloucestershire (www.InSouthGlos.co.uk) web portal contains all the information to help your business locate here, flourish and grow successfully.


Contact the economic development team by calling 01454 864950 or emailing business@southglos.gov.uk For further information visit


www.insouthglos.co.uk or www.southglos.gov.uk/business


A MULTI-LET INDUSTRIAL RECIPE FOR SUCCESS C


aisson Investment Management (www.caisson-im.com) have been increasing their presence in the South West, which has shown strong rental growth in the multi-let industrial sector. With clients including institutions, family offices and high net worth individuals who seek an added-value asset management approach, Caisson’s strategy of acquiring “unloved” estates, rebranding and refurbishing units is proving to be very successful.


In April 2016, as part of their joint venture with Rockspring Property Investment Managers' UK Value 2 Fund (www.caissonukv2.co.uk), Caisson acquired St Andrew's Trading Estate in Avonmouth.


Dan Maynard, Asset Manager at Caisson commented, “When we purchased the 133,000 sq.ft estate, comprising 17 units, the vacancy rate was 15% and rents were £3.50 per sq.ft.


Following implementation of an extensive capital works programme, which included overcladding the roofs and refurbishing the vacant units, we will be fully let by January 2018, and have increased the headline rents by 85% to £6.50 per sq.ft. We also undertook two lease renewals in house, and successfully


COMMERCIAL PROPERTY MONTHLY 2017 BEFORE


secured 66% of the estate’s rental income. The South West is buzzing at the moment, and we have used our expertise and regional contact base to maximise income and value”.


Caisson also successfully implemented a similar asset management plan at Brookgate Trading Estate, South Liberty Lane, Bristol. The unit pictured above underwent a full refurbishment, including a new roof, which resulted in its letting at £6.95 psf, reflecting a 35% increase. More recent acquisitions include Lansdown Industrial Estate in Cheltenham partnering with Rockspring, on behalf of the Cheshire West & Chester Borough Council Pension Fund, in July 2017. This


AFTER


represents the largest single industrial estate in central Cheltenham comprising 38 units and is c. 328,000 sq.ft over 11 acres in an urban location, with opportunities for refurbishment to improve the estate’s offering.


In August 2017, Caisson also purchased


Axis Business Centre in Swindon on behalf of a private client, which is a classic example of an estate that has lacked


investment over recent years, and will benefit from Caisson’s active asset management.


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