City centre Grade A office shortage eased as work starts on another major speculative scheme

December 18, 2020
By

Construction work has started on a third major office scheme in Bristol in almost as many months – with the latest project hailed as the largest speculative office development in Southern England this year.

The 200,000 sq ft EQ scheme, pictured, on Victoria Street is also being described as one of the most ambitious ever built in Bristol, with developer CEG saying it will “raise the bar in terms of quality, occupant wellbeing and sustainability”. 

Formerly called Aspire, and scheduled to complete in 2022, it is under construction at the same time as the 201,000 sq ft, 11-storey Assembly Bristol mixed-use scheme on Temple Way – where BT will be sole tenant – and the nearby 33,750 sq ft One Portwall Square, next to Bristol City Council’s 100 Temple Street office.

Meanwhile work on three other city centre office schemes is nearing completion – going some way to end Bristol’s decade-long Grade A space drought and giving Bristol property agents a rare chance to market several hundred thousand sq ft of prime accommodation.

The three schemes – the 92,000 sq ft Distillery at Glassfields, also on Temple Way, Cubex’s 116,000 sq ft Halo at Finzels Reach, in which 42,142 sq ft is now available, and the Pivot+Mark scheme on the corner of Baldwin Street and Queen Charlotte Street in the city centre and formerly known as Bridge House – are already attracting new occupiers.

CEG has appointed BAM Construction to build the striking glass EQ building, which as well as its prime office space will have 20,000 sq ft of occupier amenities including a rooftop bar, restaurant and business lounge with communal terrace, ground floor café kitchen, a 50-seat auditorium, fitness suite and break-out space.

In a first for Bristol, a dedicated bicycle entrance and ramp from Temple Street to the basement will provide easy access to more than 260 cycle spaces – in excess of the industry standard.

Health club-quality changing and shower facilities will also be provided. 

Architects Aukett Swanke have designed EQ as a smart tech-enabled building with fewer touch points, increased air changes and air quality sensors to take account of the post-Covid world of work. 

Mayor of Bristol Marvin Rees, who attended a ceremony to market the start of construction, pictured, said: “As we face severe recession, contraction to Bristol’s economy and employment losses, news of such a major sustainable investment to bring job opportunities and social value to our city is hugely positive and welcome.

“Working with city partners to achieve Bristol’s potential, our economic renewal should be focused on tackling inequality and building a fair, healthy and sustainable city. This type of sustainable development will help us build back better together.’’

The building will provide some of the largest open plan office floor plates in Bristol of up to 27,377 sq ft. CEG will also offer its ‘Let Ready Go’ studio concept, offering fully-equipped internet-ready workstations, enabling businesses immediate set up, easy expansion and contraction and access to high-quality meeting and amenity space as part of a thriving and collaborative community.

More than 500 construction jobs will be created in each year of the two-year build programme, as well as six local apprenticeship opportunities.

Once complete, the building will accommodate more than 2,000 people and, according to CEG, will boost the city’s economy by £466m a year from direct and indirect jobs, 

CEG investment manager Paul Richardson said: “We are making an immediate start on site in order to be in a position to offer 200,000 sq ft of the highest-quality office space ready for occupation by the first quarter of 2023.

“There is an acute shortage in supply of Grade A offices in Bristol and we’ve already seen a record number of pre-let office deals in the city this year.

“We adopt an innovative approach to leasing, to deliver flexibility, as well as offering tenant fit outs, which reduces an occupier’s capital spend traditionally associated with a relocation.”

Neil Dorrington, construction director for Bristol-based BAM Construction, added: “This must be one of the most ambitious schemes ever constructed in Bristol, which is a tremendous testament to CEG.

“BAM’s early and close association with the development of it over a prolonged period means we can bring our expertise in digital construction and our sustainability credentials to bear even more so than on many other schemes. Our time on site means we can also achieve great social value for the city.”

 

Comments are closed.

ADVERTISE HERE

Reach tens of thousands of senior business people across Bristol for just £120 a month. Email info@bristol-business.net for more information.