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Amazon develops 2.2 million sq ft multi-storey building in Bristol

Amazon develops 2.2 million sq ft multi-storey building in Bristol
2nd August 2017

Amazon develops 2.2 million sq ft multi-storey building in Bristol

Amazon, arguably the world’s largest online retail giant, is rumoured to be opening its very own distribution facility in the UK for the first time since the company was founded in 1994, which is set to be a 2.2 million sq ft multi-storey building in Bristol.

The organisation has agreed a deal to purchase 33.5 acres of undeveloped land from Severnside Distribution Land’s logistics development at Central Park in Avonmouth, and is already developing the site, seeking to construct a four-storey mega shed building.

This real estate deal is a change of strategy for the online retailer, which previously opted to take out leases on built stock or pre-let new developments. Fraser Williams, London’s leading Chartered Surveyor and Director at Morgan Pryce, explains; “Buying land and developing on it is a great fiscal move and a strong long–term strategy.”
It is understood that the retailer paid around £13.4 million for the land, equating to around £400,000 per acre. The scheme is expected to be operational by the middle of next year, and is set to be the first of several future sheds to be developed on an international basis.

This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.

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