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A huge piece of industrial land in Avonmouth has been sold off for an undisclosed sum.

Energy company Scottish Power has sold its commercial landholding to Walters Land - the development and regeneration division of civil engineering business Walters Group.

The site, which is around 113 acres, is situated alongside the River Severn and will be known as Severnbanks.

Walters Land says it is planning to target industrial and logistics companies with "land hungry" requirements. 

Andrew Ridler, head of industrial and logistics agency at commercial property company Alder King, said: “The scheme is situated within one of the region’s prime logistics locations and will provide opportunities for a sector which has traditionally found it difficult to secure space.”

Paul Hobbs, industrial agency partner at real estate company Avison Young, added: “The site’s infrastructure provides opportunities to create plots from five to 50 acres with opportunities available on short, medium and long-term leases.”

Alder King and Avison Young are working with Walters Land to market the available opportunities.

The news follows a report which found Bristol's out-of-town office market experienced annual take-up last year of 244,69sq ft.