A warehouse used by a Bristol company that is developing a ‘flying taxi’ has new owners after a multi-million pound deal.
The unit at the Central Park logistics hub in Avonmouth has been sold by developer Barberry to private clients of agents Fisher German for £3.25m.
Vertical Aerospace, which is developing an all-electric vertical take-off and landing (eVTOL) aircraft, currently uses the premises as a battery facility, which a 50-strong workforce began operating in March.
READ MORE: {}
Like this story? Why not sign up to get the latest South West business news straight to your inbox.
Barberry said the firm, which was set up by Ovo Energy founder Stephen Fitzpatrick, agreed a 10-year lease in a pre-let deal agreed before construction of the unit was completed.
The 13,238 sq ft facility is located on a 4.23-acre site Severn Road between junction one of the M49 and junction 17 of the M5, and sits alongside another 44,000 sq ft warehouse unit recently constructed by Barberry. Amazon, Lidl, The Range, and DHL are among other firms with facilities in the area.
Jon Robinson, development director at West Midlands-based Barberry, said: “We are excited to announce we have not only secured a first class occupier on a 10-year lease but have also sold the unit to private clients of Fisher German, representing excellent business by the Barberry team.
“The completion of the speculative development of both Barberry 14 and Barberry 44 demonstrates our continued investment in the South West region. This latest development has secured significant job opportunities while also helping to address the shortage of new high quality manufacturing, industrial and warehouse accommodation.”
Most Read
The deal comes after Vertical Aerospace, which is listed on the New York Stock Exchange, said in an administrative filing to the US Securities and Exchange Commission, that a prototype of its aircraft had been involved in “an incident” during flight testing at Cotswold Airport in Gloucestershire last Wednesday (August 9). The company said the aircraft had been remotely piloted and there were no injuries.
Vertical Aerospace wrote: “Our flight test programme is designed to establish the limits of the aircraft’s performance, and the incident occurred during an uncrewed test of the aircraft’s maneuverability during a motor failure test scenario, which is a key requirement to progress to crewed operations. We are working closely with the relevant authorities.”
The company, which also has a site in St Phillips in Bristol, had previously announced on social media in July that a full-scale demonstrator aircraft had been remotely-piloted successfully above Cotswold Airport.
Last year the firm and airline Virgin Atlantic were awarded a £9.5m grant by the Government for two trial flights between Bristol Airport and a South West airfield in 2024.
Vertical Aerospace has previously said the aircraft will be designed to to carry four passengers for more than 100 miles at a top speed of more than 200mph, while producing minimal noise and zero operating emissions.
The company recently reported a net operating loss of £36m for the first half of the current financial year, as it continued to invest in its second full-scale prototype aircraft. Mr Fitzpatrick, the company’s chief executive estimated the company would spend around £80m over the next year.