A NEW business park will shortly begin construction in Filton on the former site of the Rolls-Royce East Works.

The 65-acre site, to be known as Horizon38, had planning permission secured last year for up to 1.2 million square feet of commercial space in a development that is predicted to cost £120 million.

Major groundworks will commence on site early 2016, with phased development leading to the delivery of the first completed buildings expected early in 2017.

Developers St Francis Group and Marcol Industrial acquired the former Rolls-Royce site and have announced a funding deal with BP Pension Fund committing the parties to the development of what will be one of the largest speculative industrial schemes in Bristol’s history.

Gareth Williams, development director at St Francis Group, said: “Horizon38 will be the first major employment scheme to come out of the ground in north Bristol for 20 years. Set on a 65-acre site, this is a hugely significant development.  

“This scheme could not be better timed with occupiers struggling with little or no available stock in north Bristol. This is a very significant and important project for Bristol, South Gloucestershire and the wider region.”

Paul Baker of JLL who acted on behalf of BP Pension Fund added: “The Fund recognised this as a rare opportunity to create the largest single multi-let estate on the northern fringe of Bristol with superb access to both the motorway network and the City of Bristol. 

“With the supply of good quality space at a low, rents growing and occupiers signing longer leases it is the perfect time for speculative development.”

Paul Hobbs, industrial director at property adviser Bilfinger GVA in Bristol who advised the developers on the site purchase said: “North Bristol has seen some dramatic changes over recent years. The former Rolls-Royce East Works development site has lain dormant since the recession started in 2008 but the new owners are ready to bring forward this site.

“This is a major commercial development for the north fringe of Bristol which, as an employment area focussing on industrial and warehousing, will complement the residential and retail developments being planned on the opposite side of the A38 on the former Filton airfield.

“It’s hugely significant for the area – we feel as a development it will be as important for north Bristol as Temple Quay has been for the city centre.”