The team behind one of Bristol’s largest office developments for a quarter of a century have said they believe there will be huge demand for space in the new building.
As reported by Bristol Business News last week, London-based global office investor Tristan Capital has bought the 1.3-acre, 4 Glass Wharf site in Temple Quarter and intends to develop a speculative, seven-storey 210,000 sq ft office building on it.
Tristan Capital this week said it was bringing forward the scheme in partnership with developer Candour Group, a new London-based development and asset management firm. Construction is set to start next summer with completion anticipated mid-2022.
The building will be the fourth and final office development site in the Glass Wharf scheme, which is already home to blue-chip occupiers such as law firms Burges Salmon and Foot Anstey and accountants PwC and Grant Thornton.
It will be linked by a bridge to the neighbouring 107,00 sq ft 3 Glass Wharf, which was pre-let to HMRC.
Candour Group co-founder Toby Pentecost said: “There is less and less high-quality office space available in Bristol – partly because of conversion of existing space to new homes and other uses, and partly because there are fewer developments coming forward.
“We see a great opportunity here to redress that balance and bring forward a new development with best-in-class workspace, sustainability, occupier wellbeing, connectivity and design-quality at its heart.
“This will be one of the city’s largest developments for 25 years, reflecting both our confidence in continuing demand and the market’s requirement for new space as soon as possible.”
The building will be funded by Tristan Capital Partners’ latest opportunity real estate fund, EPISO 5.
Tristan Capital Partners managing director Nicho Jenkins added:“This development provides EPISO 5 with an opportunity to deliver a state-of-the-art Grade A office building in the established new business district of Temple Quay in Bristol’s City centre. The project fits our strategy to develop offices in low vacancy, supply constrained markets in the UK.”
Privately-owned Candour Group was launched last year to development workspace and mixed-use schemes across the UK. It focuses on investing in and bringing forward developments that make a positive contribution to placemaking, promotes health and wellbeing, and provides attractive design-led environments where people want to live and work.
