Heron International has unveiled plans for a £200m industrial and housing development on the Welsh side of the Second Severn Crossing, in direct competition with Bristol’s Severnside.
The property group is bringing forward the 202 ha (500) site, south of Chepstow for a 232,250 sq m (2.5m sq ft) warehouse and office park, and around 2,000 new homes. It is thought that Heron will seek joint venture partners for the scheme and sell of parcels of land for design and build projects.
Heron’s project will compete with ICI’s Western Approach site and Severn Gate, recently acquired by Burford from RTZ. The land is linked to the Second severn crossing by the new M49.
Hartnell Taylor Cook’s industrial partner Michael Rose said the cheaper plots on the Welsh side of the crossing could prove attractive to potential occupiers. He estimated that land prices in Wales were around £150,000 per acre compared with up to £300 per acre in Bristol.
Rose said: “Land in Wales is cheaper but there are many companies who will not want to cross the bridge one way or another. They know which side they want to be on.”
EGi News 13/02/1997
