A 600,000 sq ft speculative warehouse development is to be built on a former Rolls Royce site in Bristol.
It is believed to be the largest speculative logistics scheme the South West has seen.
BP Pension Fund and developers St Francis Group and Marcol Industrial are to develop a 65-acre site at Filton. The scheme could eventually total 1.2m sq ft.
Ground work at the former Rolls-Royce East works will begin later this year, with phased development following. The first completed buildings are expected early in 2017.
To be known as Horizon38, the site fronts onto the A38 in Filton near the former Filton airfield, Airbus and Rolls-Royce.
The developers secured detailed planning consent last year for up to 1.2 million sq ft of commercial space. In addition to warehousing and industrial space, the £120m development will include a frontage of mixed-use with car dealerships, trade counters, self-storage and a major hotel.
Gareth Williams, Development Director at St Francis Group, said: “This scheme could not be better timed with occupiers struggling with little or no available stock in north Bristol. This is a very significant and important project for Bristol, South Gloucestershire and the wider region.”
JLL advised the BP Pension Fund, Bilfinger GVA acted for the purchasers of the site. Both will be letting agents.
Gerald Eve acted on behalf of Rolls-Royce in the land sale.