Military aircraft developer start-up signs deal for space at Aztec West in Bristol

By Nicky Godding

19 May 2022

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UK aerospace start-up Aeralis, which is seeking to develop the first fully British-crewed military jet since the 1970s, has signed a landmark deal at Aztec West in North Bristol.

The military aircraft developer has taken 5,607sq ft as its UK Enterprise Hub premises where it hopes to develop the new jet that can be tailored for a range of missions. Aeralis has a three-year research and development contract with Britain's Royal Air Force to develop its aircraft as a potential successor to the BAE Systems Plc Hawk trainer and is also discussing opportunities with a number of other air forces.

The move to Aztec West unit further reinforces North Bristol's reputation as the prime location for aerospace design and engineering in the region with notable occupiers including Rolls Royce, Atkins and the Ministry of Defence all nearby.

Jordan Spear, a surveyor at real estate adviser at property agency JLL's Bristol office, which helped broker the deal, said: "This deal with Aeralis will enable them to continue to develop this ground-breaking new military jet in North Bristol, further reinforcing the area's reputation as a key location for defence and aerospace companies, with so many already present in the area.

"Bristol and the wider region have experienced significantly improved industrial market conditions over the last 18-24 months. This has primarily been driven by a reduced supply of good quality stock, as a result of increased demand, fuelled by the economic recovery from the pandemic. This letting reiterates the strong occupier sentiment in the market which has allowed for substantial rental growth."

Tom Cater of real estate advisors Gerald Eve represented the tenant in the lease transaction.

Peloton Real Estate are the asset managers of Aztec West on behalf of Blackrock Industrial Trust and were represented by JLL in the deal.

By Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.