Berkeley College Homes will spend £18m converting BT’s Market Gate offices into student accommodation.
Castlemore Securities sold the 11,613 sq m (125,000 sq ft) offices on Bond Street after BT recently confirmed its plans to move its 650 staff to Temple Quay, another Castlemore development.
Alistair Brand, managing director, of Berkeley College Homes, said: ” Market Gate gives us the opportunity to augment our expertise in refurbishing commercial property into student/key worker accommodation. Buying in Bristol’s city centre expands our existing operations, which are primarily in London.”
Planners have recommended a resolution to grant detailed consent, subject to a section 106 agreement. The scheme will provide living quarters for up to 400 students and key workers such as nurses, with a student bar or café on the ground floor.
BT has had a presence at Market Gate for 30 years. It will take a five-storey building on Temple Quay and is due to move to its new home from September 2001, the move will be complete the move by March 2002.
EGi News 10/04/00
