Rural 12-acre plot to be developed

The proposed Fiera Estate site adjacent to the M5, near Highbridge.

The proposed site adjacent to the M5, near Highbridge. - Credit: Fiera Estate

An investment firm and real estate developer is to build a 160,000 square foot logistics unit on undeveloped land.

Fiera Real Estate and Cubex have committed £100million to secure the 12-acre site overlooking the M5 at junction 22 and adjacent to the A38, near Highbridge.

The firm's aim to build a logistics unit to service the South West region as the area is a 'great location' with access to the M4 and M5.

Once completed, the developers expect the unit to hold a rental market value of £25million.

The building will include electric car charging points to improve energy efficiency too.

Cubex managing director Peter Walford, said: "This deal demonstrates our ability to source and acquire prime development opportunities.

"As with all our projects we shall be focussing on delivering a top quality, sustainable building that meets the needs of both occupiers and investors in this high-profile location."