Boost for Bristol city centre office market as DAS announces plan to relocate its HQ

October 23, 2020
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Specialist legal expenses insurance group DAS UK is to relocate its Bristol head office in one of the most significant deals in the city’s commercial property market this year.

DAS will move its 550 Bristol employees to 37,828 sq ft of refurbished space at 2 Trinity Quay, pictured, the former NatWest/RBS regional office and a stone’s throw across Temple Way from its current base in DAS House and North Quay on Temple Back. 

DAS said the new office space had been designed with input from its employees and with their well-being in mind.

Facilities include a café, library, multi-faith room, showers and a learning zone, which will also be used for exercise classes. DAS  said the refurbished space would be Covid-secure and allow staff to social distance while at work.

The move will also mean DAS UK’s law firm – DAS Law, which it acquired in 2013 – will be co-located with the legal expenses insurance side of the business for the first time.

DAS UK Group CEO Andrew Burke said: “The move marks the start of a new era for us, with the bright, modern, inclusive space offering more opportunities for flexibility and efficiency, while remaining in a central location close to rail, road and cycle networks.

“We’ve been working hard throughout the pandemic and our new offices – which are Covid-secure – mark an exciting development for us as we look to our next stage of growth.” 

DAS UK is part of the ERGO Group, one of Europe’s largest insurance groups. The majority shareholder in ERGO is Munich Re, one of the world’s largest reinsurers.

2 Trinity Quay owner NatWest Group was advised by CBRE and Avison Young, while DAS UK was advised by Cushman & Wakefield.

CBRE South West and South Wales head of office agency Richard Kidd said the building had been refurbished to become a modern, Grade A office with a unique waterfront setting.

“It offers DAS UK all the benefits of its existing offices, but with greater flexibility and a high spec environment that will support the company as it looks to the future,” he said.

DAS’ relocation announcement coincides with another report showing Bristol’s office market bouncing back from a quiet second quarter when activity was hit by lockdown.

The latest Bristol Offices report from global real estate advisor Colliers International shows a total of 15 deals completed in the city centre between July and September, compared with nine in the second quarter.

A total of 331,000 sq ft has now been taken up in the city centre for the first three quarters of 2020, it said. 

Colliers International Bristol director for national offices James Preece said the market was being driven by demand from tech and media companies that wanted to be in the heart of the city and were proving to be resilient in the face of challenging market conditions.

 

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