Galaxy Insulation and Dry Lining Acquire New Bristol Premises
The insulation and dry lining materials distributor have taken on the 21,000 sq ft property on a 15-year lease
Galaxy Insulation and Dry Lining, has signed a new 15-year lease on two units at Pucklechurch Trading Estate, following completion of an extensive refurbishment.
Units 15&16 extend to 21,021 sq ft on 1.87 acres, comprises of two separate warehouse buildings, with ancillary office & welfare space, and benefits from a large secure yard.
Henry de Teissier, Associate at JLL’s Bristol office said ‘’The property was vacated by the former tenant in late 2020. At the same time, we were aware that Galaxy were in the market and a new lease was subsequently agreed, subject to a comprehensive landlord’s refurbishment programme. The fact that terms were agreed almost immediately following vacation of the former tenant, demonstrates the continuing demand for good quality refurbished stock in the Bristol market.’’
Mark Thomas, Branch Director at Galaxy Insulation & Dry Lining said “We are thrilled to have expanded into the South West and have pinpointed Bristol as a central point to enable the business to provide a top class service to an ever growing customer base”
Rhys Jones of Knight Frank’s Bristol Logistics Agency Team added “It is great to see an immediate return for the additional investment in this location. Confidence in occupier activity through the City remains high where the quality of the units allows companies to perform at their best”.
The Galaxy letting coincides with the release of the H1 take up stats for the Greater Bristol market. Take up of 1.4m sq ft was recorded for the first half of the year, a 125% increase on the same period last year. The demand is not limited to the traditional logistics and fulfilment sector, the construction & building materials sector is also experiencing strong growth, fuelling demand for good quality premises.
Pucklechurch Trading Estate is owned by the Blackrock Industrial Trust and asset managed by Peloton Real Estate. The estate is situated to the North East of Bristol and benefits from excellent access to the M4 and Avon Ring Road. The new build scheme, ‘’Ascent’ situated on the estate, will deliver seven brand new units to the market this summer, with sizes from 4,300 – 20,000 sq ft.
JLL and Knight Frank are joint agents for Blackrock. Galaxy Insulation and Dry Lining were unrepresented.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.