Viridor Waste Management has sold its waste management site in north Bristol to South Gloucestershire Council for more than £2.7m.
The site is currently an active waste management centre comprising three buildings, with the opportunity for future redevelopment. Viridor will lease back the property from the council and remain in the premises until March 2021. It will then relocate to a newly constructed facility.
Chris Lynn, head of collections in the South West at Viridor, said: “We are pleased with our new leasing arrangement, which will see us through to 2021. It enables us to keep our Bristol Collections Fleet in situ in North Bristol until our newly developed premises are ready.”
Josh Gunn, head of South West industrial and logistics at property adviser BNP Paribas Real Estate, which brokered the deal, commented: “The combination of the scarcity of sites suitable for occupiers on the market, combined with a strong appetite for commercial development land, ensured that we achieved in excess of the quoting price. There are also a number of developments currently under way in the area for residential, commercial and industrial uses, which shows the attractiveness and economic strength of the location.”
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