BRIDGWATER'S first speculative development for more than a decade has been announced this week.

Developers of the £150m Bridgwater Gateway business park have decided to press ahead with building 10 new industrial units, despite having no occupiers contracted to move into them prior to construction.

“At a time when UK industrial availability is at an all-time low and the South West economy is going from strength to strength, the decision to build the first speculative industrial development in Bridgwater for around a decade reflects confidence in the UK’s booming industrial market, and in the regional economy,” said Tim Davies, head of the South West industrial and logistics team at Colliers International.

“This forward-thinking approach is in keeping with the initial decision to create a 100 acre landscaped business park off J24 of the M5, just 12 miles from the site of Hinkley C and in an area in which the local economy is expected to grow by 45 per cent by 2030.”

Detailed planning permission is already in place at Bridgwater Gateway, and infrastructure and services on site are near to completion.

The speculative scheme will feature 10 industrial units from 5,000 sq ft each while units of up to 300,000 sq ft are available on a design and build basis.

The state-of-the-art units will include first floor offices and landscaped, dedicated car parking to the front of the buildings to create 'a better impression to visitors'. At the rear of the buildings will be loading doors and parking areas for delivery vehicles.

Phil Wade, development manager at Bridgwater Gateway, said: “The unprecedented demand for prime industrial space and the strategic position of Bridgwater Gateway have combined to make this is an optimum time to go ahead and build without confirmed end users.

“By building speculatively we will be able to go beyond our initial aim of providing occupiers with fast track delivery of buildings within 12 months.

“It will also provide an opportunity to showcase the modern, customer-focussed design of industrial premises at Bridgwater Gateway, which will have separate areas for visitors and delivery vehicles and will provide an environment that is more attractive and safer than that of traditional industrial parks.”

Bridgwater Gateway, which is the newest business park development on the M5 corridor, has also been planned to provide office space, a 150 bed hotel with conference facilities, as well as retail and roadside premises.