First Group has completed around £20m-worth of property transactions in the South West.
On London Road in Bath, food retailer Safeway has paid First Group over £8m for the former Kensington bus depot site. The food retailer has started work on a new 3,530 sq m (38,000 sq ft) store on the 2ha (5 acre) site and the bus depot has relocated to a new site at Weston Island, Bath.
In Bristol, First Group and Bristol City Council have sold their interest in the former bus depot site close to Bristol City Football Club, at Ashton Gate to Grantchester Properties. Grantchester paid circa £4m for the site, where it has started development of a 5,111sq m (55,000 sq ft) non-food retail park. First Group has relocated its bus depot to South Bristol Business Park.
Meanwhile, in Plymouth, First Group has sold and relocated its Laira Bridge Depot for close to £5m. It has moved to a new purpose-built depot on land acquired from SWEB.
Chesterton advised on the Bristol and Plymouth deals.
EGi 24/11/99
