£58 MILLION VECTURA DEVELOPMENT ON BRISTOL & BATH SCIENCE PARK GETS GREEN LIGHT

Work starts on new warehouse at Bristol’s Horizon38

Construction of a speculative industrial warehouse has started at Horizon38, the landmark regeneration and employment scheme in Filton, north Bristol.

Biotech firm Vectura, which specialises in inhaled drug developments, has been granted planning permission for its new 10,000 sq m facility in Bristol – an Inhalation Centre of Excellence.

The Chippenham-based company, which makes medical inhalers, hit the headlines earlier this year when it was acquired by tobacco giant Philip Morris in a £1 billion deal.

The new £58 million building at Bristol & Bath Science Park, which is anticipated to complete in 2025, will enable Vectura to expand its operations, and provide new career opportunities for research and development scientists and engineers in pharmaceutical and device development, as well as in manufacturing and laboratory services.

Michael Austwick, CEO Vectura, said:

“We are delighted that our plans to build a world-leading science facility have been approved by South Gloucestershire Council.

“The new-build will enable our already successful pharmaceutical company to continue its vital work, providing innovative inhalation and other advanced drug delivery solutions that have the potential to improve the lives of patients and consumers around the world.

“For nearly 25 years, Vectura has been providing formulation science, device technology and pharmaceutical development expertise, helping our partners and licensees develop products which are used by 10 million patients worldwide. This new facility will help us to build on this successful track record, increasing workspace capacity and attracting talent to the area.”

Unit G5, a 115,600 sq ft unit is being developed by St Francis Group and ALMCOR at Horizon38. Avison Young and JLL have been appointed to market the new space at a time when there is unprecedented demand for Grade A logistics and distribution space and a critical lack of available stock. It is the largest new build logistics unit available in north Bristol.

Horizon38 is the flagship 60-acre employment scheme being developed in Filton, on the site of the former Rolls Royce East Works alongside the A38, and accommodating over 1.3m sq ft of commercial space.

The new building, which will be ready for occupation in April, is being constructed by Warwickbased MCS Group.

O ce take-up in Bristol highest since 2008, says Savills

Take-up in Bristol totalling 378,000 sq ft was the second highest first-half take-up since 2008, according to property consultancy Savill’s.

This was 71 per cent above the total first half of 2021 and represented a significant 50 per cent increase on the five-year first half year average, said the surveyor.

Grade A take-up accounted for 41 per cent of the first quarter’s take-up. This represented a much larger Grade A proportion than the five-year first half average of 23 per cent.

This included the 24,000 sq ft acquisition by Pax8 at No 2 The Distillery and the

23,000 sq ft letting to Deloitte at Halo.

Supply currently stands at 770,000 sq ft. This equates to just 1.3 years of supply, and with Savills regarding anything under two years as an undersupply, availability within the Bristol city centre market remains extremely limited.