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PICS Telecom, a leading provider of circular economy solutions to the telecommunications industry, has signed a 15-year lease for a 66,000 sq ft space at Western Approach Distribution Park in Bristol. The signing of the lease marks the “largest logistics letting” in the South West region this year, following the refurbishment of the building in 2022, which included the removal of a substantial mezzanine level to create more operating space and improvements to the exterior and office space.
Western Approach Distribution Park is a premier logistics park and an established location for logistics and distribution. M7 Real Estate, a pan-European investor and asset manager specializing in multi-tenanted real estate, handled the deal for 1500 Western Approach Distribution Park. Sadie Fitzpatrick, senior asset manager at M7 Real Estate, commented on the deal, stating that it reflects the current interest from occupiers for high-quality logistics assets in the South West.
According to Alex Quicke, a surveyor in the industrial logistics team based in CBRE’s Bristol office, the refurbishment of the property has set a benchmark for high-quality, modern logistics space in the South West market, which has an acute lack of supply. The property’s refurbishment has solidified positive occupier intent to expand, despite ongoing national economic uncertainty.
“We are thrilled to have secured this new space at Western Approach Distribution Park,” said Tim Williams, CEO of PICS Telecom. “This exciting move strengthens our commitment to our EMEA customer base, and allows PICS to continue providing our full suite of products and services to the highest quality standards that PICS has set over the past 18 years of operations in EMEA. We are confident that this new space will enable us to better serve our customers and continue to grow our business in the region.”
Western Approach Distribution Park is home to several notable occupiers, including Royal Mail, Next, Amazon, DHL, Warburtons, and GKN Aerospace. With this new lease, PICS Telecom joins the ranks of these prestigious companies, further strengthening its position as a leading provider of circular economy solutions to the telecommunications industry.