Abstract Securities has bought a six-acre site at Bristol Business Park to house a new 150,000 sq ft office for Babcock International Technology.
Babcock is one of the UK’s largest maritime support businesses and providers of engineering support services to the Royal Navy. Abstract is buying the site and an 80,000 sq ft facility from DuPont for £4.8m.
The global chemical group built the purpose-built research, development and manufacturing facility in 1990, and will vacate the site at the end of the year. Babcock will initially occupy the existing facility,
but there is scope to redesign and expand the scheme to 150,000 sq ft.
At the expanded size, the facility would be able to consolidate Babcock’s other offices in Bristol – 20,000 sq ft elsewhere on Bristol Business Park and 15,000 sq ft at Ashton Vale business park.
It has agreed to a 10-year lease with a break in five years. It is paying a rent of £550,000 pa.
Lambert Smith Hampton acted on behalf of Abstract and Babcock; JLL advised DuPont.
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