Carlyle Skelton Development Group has completed the £21m acquisition of Temple Way House in Bristol from Topland Group.
The jv between London-based Skelton Group and US private equity firm Carlyle Group plans to redevelop the 111,000 sq ft building.
The 1.2-acre site could provide space for a scheme of up to 250,000 sq ft.
Tenant Clerical Medical will move out of the 33-year-old premises by the end of this year to occupy their new purpose built office at Crest Nicholson’s Harbourside.
Peter Musgrove, Director at Lambert Smith Hampton’s Bristol office, which advised Carlyle Skelton, said, “Once Clerical Medical have taken occupation of their new building, construction will start on the redevelopment which will remodel and modernise Temple Way House which is one of Bristol’s most high profile located city centre offices.”
Other bidders included Kenmore, Development Securities, Urbina and PMH.
References: EGi News 15/08/06
