Property investment firm Hines has put a 423,000 sq ft warehouse on the market at Avonmouth, Bristol.
The massive warehouse was previously let to Morrisons following its take-over of Safeway in 2004, but its lease is due to expire in August.
In 2019, Hines acquired Cribbs Causeway Distribution Centre, in a deal thought to be worth £23 million from M&G Real Estate.
It will be refurbished and is currently subdivided into a 160,000s q ft refrigerated storage section and 240,000 sq ft conventional stacked storage space. It currently has 54 dock and five level level loading doors and eaves height from 8.2 – 10.5 metres. Its 360 degree yard has the potential to accommodate up to 71 on site trailer spaces
It is located adjacent to Junction 17 of the M5 motorway, seven miles north of Bristol’s city centre.
It is thought that Hines is looking to achieve a rent of £6 per sq ft and has said that once the asset is income-producing, it may look to sell the building’s freehold.
Hines it has appointed Knight Frank, DTRE and BNP Paribas to market the building.
