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In the first half of 2014, take-up for the city’s out-of-town market totalled 220,000 sq ft – 35 per cent higher than the five-year six-monthly average.Thirty-nine transactions over 1,000 sq ft – of which six were more than 10,000 sq ft – took place in the first half of 2014.“Predominantly, this has been caused by the lack of funding for speculative development as recessionary pressures all but removed lending from the market,” he said.

Road links to the South West and West Midlands and beyond via the M5 and London or South Wales on the M4 make the region a hot spot for the sector.Paul Hobbs, director of industrial Agency at GVA in the city, said: “It’s therefore no surprise that as the markets return, we see businesses choosing locations such as Central Park as the hub for their distribution and logistics expansion in the region.The latest Bristol take-up figures for industrial property suggest a strong first half of the year, with rental growth also predicted for the next six months.The challenge now will be a lack of stock to meet the increased demand, particularly given the fact that there are currently no out-of-town schemes under construction in Bristol.” He said refurbishment schemes such as 740 Aztec West would help, but more was needed.“The 740 Aztec West project will also encourage other landlords and developers to consider similar schemes once they see its success,” said Steve.

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