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."
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here