Crest sells Bristol offices to PRUPIM for £13M15th October 2012

Crest Nicholson has sold the freehold of 2 College Square, its latest office development in the prestigious and vibrant Harbourside Quarter in Bristol, to PRUPIM for £13 million.

Law firm CMS Cameron McKenna already occupies half of the space and PRUPIM will be letting the remaining two floors each of approximately 12,000 sq ft, which can also be subdivided to create suites from 6,000 sq ft

The Grade A building has an Excellent BREEAM rating and extends to approximately 50,000 sq ft.

The completion of the building brings the total developed at Harbourside to approximately 330,000 sq ft with occupiers including Hargreaves Lansdown and Lloyds TSB.

The remaining site has planning consent for approximately 70,000 sq ft of offices and is available for pre-letting. Once built it will complete the impressive ‘Quarter Mile of Glass Elevations’ along the south side of Anchor Road.

Chris Tinker, Board Director & Regeneration Chairman at Crest Nicholson, described the sale as a great result in the current market.

He said: “This letting and sale enhances Harbourside’s growing reputation as the financial business location of choice, as well as for the city’s role as commercial powerhouse for the South West.”

Comprising one million sq ft of redevelopment land around Bristol’s historic floating harbour, Harbourside is one of Europe’s largest regeneration projects and has transformed the area formerly known as Canon’s Marsh into a vibrant mixed use waterside attraction.

In addition to the 330,000 square feet of office space, the development also includes cafes, bars, a casino, restaurants, an IBIS hotel and 662 high specification apartments including the latest phase which is called Invicta.

The name for the new phase draws inspiration from Bristol’s link to the city of Porto in Portugal which was also known as Cidade Invicta, or The Unvanquished City and once complete will comprise 170 one, two and three-bedroom apartments plus a number of one-bedroom studios.

Including an important pedestrian walkway called Millennium Promenade which links Millennium Square to the Harbour Inlet it will incorporate a rich ecological landscape, provide views across to the ss Great Britain and complete the famous Brunel Mile.

Harbourside provides business occupiers with an unrivalled waterside and mixed use environment with facilities nearby for office workers including Pizza Express, ZaZa Bazaar, Las Iguanas, Bordeaux Quay, Costa Coffee, Fitness First, The Living Room and Tesco Express.

Crest was advised by DTZ, Jones Lang Lasalle and CMS Cameron McKenna. PRUPIM was advised by Ediston, Forsters and Hogan Lovell