The Royal Bank of Scotland is rumoured to have chosen Magnox Electric’s The Pavilions in Bedminster, south Bristol, as the new base for its share dealing service. The operation can no longer be accommodated at Bristol Bridge House, the bank’s main offices in the city.
The bank is thought to be signing up for around 4,645 sq m (50,000 sq ft) of offices on a mixture of short and long term leases. The rent is understood to equate to an average of £75.40 per sq m (£7 per sq ft).
The deal completes the letting of the 18,580 sq m (200,000 sq ft) Pavilions scheme, which also houses the South West region headquarters of pension fund Allied Domecq.
DTZ Debenham Thorpe and Hartnell Taylor Cook are advising the landlord.
EGi News 10/10/96
