Canadian real estate development and investment firm Epta Development Corporation (EDC), and its development partner Stoford, has secured a freehold turnkey transaction for a 209,319 sq ft last-mile logistics unit at Axis Works, Bristol.

The high-specification unit will be developed on a 27.91-acre plot at Central Park, Avonmouth, on behalf of an undisclosed occupier. This represents a significant investment by the purchaser and continues the success of EDC and Stoford at Axis Works.

The building will target EPC A and BREEAM ‘Very Good’ standards and incorporate a range of sustainability measures, including photovoltaic panels and electric vehicle charging provision. Bowmer + Kirkland has been appointed as main contractor.

In addition, construction on a new £74 million M&S logistics facility at Axis Works has reached a key milestone, with the completion of the building’s steel frame.

EDC and Stoford are delivering the 390,000 sq ft high-specification warehouse on behalf of LondonMetric Property Plc, which is pre-let to M&S on a 20-year lease. The unit is now progressing through the next phase of construction, with cladding and roofing works underway.

Both developments at Axis Works are scheduled for practical completion in October 2026 and will be accessed via a new internal estate road, which has already achieved sectional completion.

Chris Tsakumis, Principal at Epta Development Corporation, said: “Axis Works continues to prove its appeal to best-in-class occupiers. This latest development reflects the site’s attractiveness and its growing reputation as a premier industrial destination in the region. This marks another step in EDC’s vision to deliver top-tier industrial environments, responding to sustained demand from leading occupiers in one of the UK’s strongest markets.”

Dan Gallagher, Joint Managing Director at Stoford, added: “Axis Works continues to attract strong occupier interest due to its excellent connectivity and ability to deliver bespoke, high-quality logistics buildings. Progress across the estate, including significant infrastructure delivery, highlights the scale and momentum of the scheme.”

Axis Works is a 101-acre site located at Central Park, South Gloucestershire, within the Avonmouth Severnside Enterprise Area. The scheme benefits from hybrid planning consent to deliver c.2 million sq ft of new industrial, warehouse and logistics space.

CBRE and Knight Frank are joint agents on the scheme.

For further information, visit www.axis-works.com.

Stoford is a privately-owned company established in 1996 to specialise in occupier-led property solutions for business. The company is involved in a diverse range of commercial property developments across the UK. Its innovative approach to procurement ensures that it is highly competitive, delivering a quality product on time and on budget.

For more information visit www.stoford.com

Epta Development Corporation is a second generation, family office real estate investor and property developer based in Vancouver B.C., Canada.  In operation since the 1980’s, our company has focused on creating innovative development projects across all asset classes from residential communities to industrial warehousing in Canada, United States and the United Kingdom.  Core to our investment mandate is our entrepreneurial spirit and focus on sourcing and executing on opportunities to deliver market leading absolute returns. For further information visit www.eptadevcorp.com

Media

For more information please contact Paul King, PR director at Barques on 0121 230 2080.

Real estate development and investment firm, Epta Development Corporation (“EDC”), and its development partner, Stoford, have commenced construction of a new Marks & Spencer (“M&S”) logistics facility at Axis Works, Bristol, on behalf of LondonMetric Property (“LondonMetric”). 

The 390,000 sq ft high specification warehouse is being forward funded by LondonMetric for £74 million and pre-let to M&S on a 20-year lease, forming part of the retailer’s investment in its food supply chain.

Designed to the highest sustainability standards, the building will target BREEAM Excellent, EPC A, and low-carbon construction, incorporating sustainable features to meet the requirements of all parties involved in the construction.

Winvic has been appointed main contractor and completion of the new unit is scheduled for summer 2026. 

Axis Works is a 101-acre site that lies in a strategically important location at Central Park, South Gloucestershire, within the Avonmouth-Severnside Enterprise Area. The scheme has hybrid consent to deliver c.2 million sq ft of new industrial, warehouse and logistics space. 

Since acquiring the site in 2020, EDC has overseen extensive predevelopment works, including asset recovery and demolition of a former pharmaceutical manufacturing facility, site raising, utilities media servicing, and new drainage infrastructure.

Chris Tsakumis, Principal at EDC, said: “Commencement of vertical construction at Axis Works marks a noteworthy milestone for our inaugural investment into the UK.  M&S entrusting our team to deliver a critical piece of supply chain infrastructure for the business is equally rewarding, and is further testament to what Avonmouth offers as a strategically placed distribution hub and highly attractive locale for major capital investment.  Delivering this building for M&S and LondonMetric, two widely respected and admired British companies, represents a seminal moment for us and our development partner Stoford at Axis Works.”

Dan Gallagher, Joint Managing Director, Stoford, added: “Breaking ground at Axis Works is the result of more than two years of close collaboration with EDC. The project demonstrates confidence in Avonmouth as one of the UK’s most important distribution locations and will provide LondonMetric and M&S with a facility that meets the highest standards of design and sustainability.”

Mark Stirling, Property Director of LondonMetric, commented: “We are delighted that construction has commenced on this high quality logistics warehouse for M&S who remain a key partner across our portfolio. This is one of several developments where we continue to work closely together to help grow their best in class food offering.

“We are also very pleased to be working in partnership with EDC and Stoford to deliver such a high quality development.” 

Sarah Stocken, Food Logistics Project Manager at M&S Food, commented: “This distribution centre will play a key role in modernising our supply chain to increase capacity in our network. Not only will it help us deliver for our customers but also provide a brilliant working environment for colleagues when it opens next year. We look forward to seeing work progress onsite, led by EDC and Stoford.”

Councillor Ian Boulton, Co-leader of South Gloucestershire Council, said: “This major investment by M&S, supported by EDC and Stoford, is another clear sign of confidence in South Gloucestershire as a place to do business. Developments like this bring high-quality jobs, boost our local economy, and demonstrate the strength of Avonmouth and Severnside as a key logistics hub for the South West and the UK.”

For more information, please visit https://axis-works.com/ or contact agents Philip Cranstone or Adam McMillan at CBRE, and Russell Crofts or Charles Binks at Knight Frank.

CAPTION: (l-r) Dan Gallagher, Stoford; Mark Stirling, LondonMetric; Sarah Stocken, M&S; Cllr Ian Boulton, South Gloucestershire Council; Chris Tsakumis, EDC; James Mandley, Winvic.

ENDS

Stoford is a privately-owned company established in 1996 to specialise in occupier-led property solutions for business. The company is involved in a diverse range of commercial property developments across the UK and has completed commercial developments totalling over 22 million sq ft. Stoford’s innovative approach to procurement ensures that it is highly competitive, delivering a quality product on time and on budget. For more information visit www.stoford.com 

Epta Development Corporation is a second generation, family office real estate investor and property developer based in Vancouver B.C., Canada.  In operation since the 1980’s, our company has focused on creating innovative development projects across all asset classes from residential communities to industrial warehousing in Canada, United States and the United Kingdom.  Core to our investment mandate is our entrepreneurial spirit and focus on sourcing and executing on opportunities to deliver market leading absolute returns. For further information visit www.eptadevcorp.com 

LondonMetric Property is the UK’s leading triple net lease REIT with a  £7 billion portfolio aligned to structurally supported sectors of logistics, healthcare, convenience, entertainment and leisure. It owns and manages desirable real estate that meets occupiers’ demands, delivers reliable, repetitive and growing income-led returns and outperforms over the long term. Further information is available at www.londonmetric.com

Media: 

For more information contact Paul King on 07779241838 or email paulking@barques.co.uk 

Plans for the proposed rental housing project are well underway with construction targeted for 2025

VANCOUVER, CANADA – March 12, 2025 – The newly formed Easthill Development Limited Partnership, which is led by OpenForm Properties (“OpenForm”) and Epta Development Corp (“EDC”), announced plans today to collaborate on a new residential and commercial development at the northeast corner of Broadway and Renfrew Street in Vancouver. EDC acquired the property in 2018 and has been working with staff at the City of Vancouver to envision a comprehensive development plan for this transit-oriented site under the Moderate Income Rental Housing Pilot Program (MIRHPP).

The project being developed by this venture falls within the Rupert Renfrew Station Area Plan and the current development plan has received initial approvals from the City of Vancouver. OpenForm and EDC intend to work with City staff to envision a modified development proposal that will align with the emerging policy context designated for the area. One that the City of Vancouver, alongside announced initiatives to promote Transit Oriented Development (TOD) by the Provincial Government, has prescribed additional height and density within the updated draft area plan, expected to be finalized for council consideration early 2025.

“The City of Vancouver has a growing need for more housing options, including both market and below-market rental housing adjacent key transit infrastructure. This project has meaningful scale and will help form part of the solution,” added EDC Principal, Alex B. Tsakumis. “We’re pleased to be joining forces on this project with a highly experienced and respected local developer in OpenForm to deliver an exceptional product that will add positively to the local community.”

“We are thrilled to partner with EDC, a trusted friend and now a valued partner, to enhance the livability and vibrancy of this exciting new area in Vancouver,” said OpenForm Properties Principal, Jason Turcotte. “This collaboration presents a unique opportunity to bring our shared vision to life, creating a dynamic and energetic community centered around a key transit hub. Together, we are committed to building a future that reflects the innovative spirit and growth of our city.”

The project spanning a full city block fronting Renfrew Street is scheduled to commence construction in the second half of 2025 with completion of the two proposed buildings expected in 2028.

About OpenForm
As an entrepreneurial developer with a proven track record, OpenForm Properties, along with our sister company OpenRoad Auto Group, is driven to build exceptionally well-designed, high-quality commercial, industrial, and residential developments that meet the needs of an ever-changing world. For over 45 years, the award-winning OpenRoad Auto Group has been built on a foundation of customer service, innovation, and inspirational placemaking. With a diverse portfolio that includes residential strata, rental, commercial, and industrial projects, OpenForm Properties continues to lead in community building and innovative development.

About EDC
EDC is a second generation, family office real estate investor and property developer based in Vancouver B.C., Canada. In operation since the 1980’s, our company has focused on creating innovative and successful development projects across all asset classes from residential communities to industrial warehousing in Canada, United States and the United Kingdom. Core to our investment mandate is our entrepreneurial spirit and focus on sourcing and executing on opportunities to deliver market leading absolute returns.

A hybrid planning consent has been granted for the development of c.2 million sq ft of new industrial, warehouse and logistics accommodation at a premier distribution location in the South West.

Vancouver-based real estate development and investment firm, Epta Development Corporation (EDC) purchased the site in December 2020 and has appointed Stoford as development partner to deliver the scheme.

It has been given approval for a prime multimodal scheme on a 101-acre site at Central Park in Avonmouth, Bristol.

The nationally significant scheme will now be known as Axis Works, and has the capacity to deliver units of incomparable scale on a built-to-suit basis. The indicative masterplan includes a c.1m sq ft building and three other units ranging in size from 273,000 sq ft to 348,000 sq ft, all with integral CAT A office space and up to 23 MVA site power capacity.

The highly sustainable scheme will be characterised by industry-leading ESG credentials, with Stoford targeting BREEAM Excellent, an EPC ‘A’ rating and net carbon zero in construction.

Features will include PV-ready roofs, air source heat recovery heat pumps, highly efficient thermal envelope design, provision for ‘green roof’ bicycle shelters and EV ready charging, and the use of recyclable materials where possible. Occupiers will also benefit from on-site nature trails, outdoor gyms and breakout facilities.

The site has already been cleared of the former AstraZeneca works and Stoford is now lining up to start site raising and infrastructure works in earnest. It anticipates being able to commence construction of build-to-suit facilities in Q1 2024.

Chris Tsakumis, Principal at EDC, said: “Receipt of planning to commence siteworks and initiate promotion of bespoke builds to the occupier market signals a major investment milestone. Since our acquisition in late 2020, we have worked closely with our team of UK consultants to envisage a masterplan that will meet the demands of modern occupiers with a programme of development focused on sustainability, flexibility, and innovation. We’re equally thrilled to have appointed best-in-class industrial developer Stoford as our delivery partner on this prime asset and our flagship project in the UK.”

Dan Gallagher, Joint Managing Director, Stoford, said: “We’ve worked in close partnership with EDC over many months to secure planning consent for this hugely exciting scheme. Axis Works has the potential to become a world-class logistics and distribution park, creating jobs and economic growth in an already popular strategic location for logistics operators. We can deliver large scale, high quality accommodation with significant power, to suit a variety of occupier needs and anticipate significant interest in the scheme.”

Axis Works is located in an established employment area near the Port of Bristol. The site benefits from excellent communication links with direct access to the national motorway network via the M49, M4 and M5. It lies in the vicinity of three rail stations and is less than 11 miles from Bristol’s multiple intermodal rail facilities.

EDC and Stoford were advised by the planning team at Gerald Eve, with input from an extensive team of professional consultants.

The scheme is being marketed by retained agents, Charlie Binks and Russell Crofts of Knight Frank and Philip Cranstone and Adam McMillan of CBRE.

Vancouver-based Epta Development Corporation (EDC) has acquired a prominent 100-acre redevelopment property commonly known as Avlon Works in Severnside, South Gloucestershire.

Epta Development Corporation envision the unused site being transformed into a world-class logistics and distribution park. (Subject to planning permission.) EDC have mobilized their contractors to start decommissioning, asset recovery, and the demolition of existing structures on the property. The intent is to make the land development-ready by spring 2022.

The Avonmouth Severnside Enterprise Area is a popular strategic location for logistics operators due to its ease of access to the M49, M4, and M5 motorways.

Several proposed infrastructure projects will help strengthen the area as an attractive and viable long-term location for future investment.  These include the new M49 junction, increased rail services to Severn Beach Line, and flood defence works.

“We couldn’t be more pleased that our first major investment in the UK is taking place in the south west, with everything this region has to offer alongside the real-time market growth that’s happening in this asset class,” says Chris Tsakumis, Principal of EDC. “As a foreign investor entering a market for the first time, there’s always some initial trepidation and heartburn that ensues.  Our experience on the ground — from the planning authority at South Glos to stakeholders such as West of England Combined Authority and Invest Bristol & Bath to local business — has been extremely positive to date.  This region offers a welcoming investment environment in many ways.”

Dan Norris, the West of England Metro Mayor adds, “I’m pleased that the former manufacturing site will be getting a new lease of life which will bring more jobs and opportunities. This is a vote of confidence in the West of England as a place to do business.”

Notably, the UK Minister for Investment, Gerry Grimstone said, “It’s great that Canadian firm Epta Development Corporation has chosen to build their logistics and distribution park in South Gloucestershire, an extremely well-connected part of the South West where they will be able to grow and take advantage of all that the region has to offer.

“Their investment into the UK market will not only help boost capacity in our growing logistics sector, but also create jobs and economic growth that will level up the whole of the UK.”