Property developer Bell Hammer and AXA Investment Managers - Real Assets have completed a deal to sign telecommunications firm BT as sole tenant of Building A at Assembly Bristol.
A pre-let agreement has been secured for 201,000sq ft at Assembly Bristol for the 11-storey building that is due to be completed in 2020 – which is the first phase of the development.
BT has agreed a 20-year lease on the building and its first staff are expected to move there in 2021. Assembly Bristol, located next to Temple Way, is being developed by Bell Hammer in partnership with AXA Investment Managers - Real Assets.
The mixed-use regeneration scheme with offices and retail will submit planning applications in early 2020 for Building B (28,000sq ft) and Building C (90,000sq ft) – ground work will be starting there soon.
Designed by architect company AHMM, Building A has helpful elements including natural light, high ceilings, outside space on every floor, a shared roof terrace and cycle facilities.
The development is a short walk to the city centre, Temple Meads train station, Cabot Circus and the Floating Harbour via a new river walkway included as part of the plans working with Bristol City Council.
Graeme Paton MD, property and facilities services at BT, said: “We’ve been searching for a modern workspace in central Bristol fit for our future and in Assembly I’m pleased to say we have found it. We were impressed with the flexibility and environmental credentials of the building, as well as its ideal location close to public transport links.
“This new building will be a key space for BT’s presence in Bristol and the south west. We have thousands of colleagues in the area, and they help BT Group contribute more than £1.3bn to the region’s economy.”
Harry Badham, UK Director of Development at AXA IM - Real Assets, said: “We committed wholescale to Bristol when we acquired this site in 2015 and have worked hand in hand with both Bristol City Council and our excellent design team to create productive, future-ready workplaces for all business sectors.
“We took the full construction and leasing risk at a time of wider political and economic uncertainty because of our belief in the strength of the local authority, the product we are creating and the location.”
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