New joint venture to develop key south west distribution scheme (UK)

The South West's largest distribution park is to be established in Severnside, Bristol following the announcement of a new Joint Venture between landowners Severnside Distribution Land Ltd, and global property group Goodman. This agreement will see the initial promotion of 85 acres for B8 development which can accommodate up to 1.6 million ft² (approx. 148,000 m²). In the future SDLL expect to release subsequent phases of land totaling around 600 acres.


SDLL expects to release subsequent phases of land totaling around 600 acres.

The strategically located site, to be known as Central Park, Severnside, benefits from existing planning consent, with infrastructure already in place. This puts the site on the radar of a number of large format requirements currently live in the South West.

Michael Shebson of SDLL commented "We are delighted to have come to an agreement with Goodman, who will bring an unrivalled level of expertise in the logistics sector. With a land holding of this size we can even construct buildings in excess of 1 million ft². Goodman is one of the world's leading developers of high quality industrial space and has the track record to deliver. This alliance provides us the opportunity to create a long term investment portfolio in this outstanding location."

Jason Dalby, Managing Director of Goodman Logistics UK, said: "Central Park, Severnside, represents a major development opportunity and we look forward to partnering SDLL on this exciting joint venture. With such a strategically important site in terms of location, scale and deliverability, it offers significant benefits for potential occupiers, and we will use our market insight and local knowledge to attract them to this prime location. We intend to launch the scheme to the market in the course of the coming weeks, and are confident it will quickly acquire a national profile."

SDLL and Goodman have appointed Knight Frank and GVAGrimley as joint agents on the scheme.

Source: FD

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