Bristol & West has finally confirmed that it has agreed to relocate its headquarters to Temple Quay in Bristol, in a move which will kick-start work at English Partnerships’ flagship site.
John Burke, chief executive of Bristol & West, said: “To stay and redevelop at our current location would have involved moving out and back in again once the building has been developed to meet our needs.”
In a widely trailed move, the building society is buying a 0.8 ha (2 acre) plot on the 8.5 ha (21 acre) Temple Quay site next to Temple Meads Station in Bristol city centre. It has entered into a development agreement with Castlemore Securities for a 16,257 sq m (175,000 sq ft) building.
The relocation follows B&W’s acquisition by Bank of Ireland. The deal triggers Castlemore’s agreement with English Partnerships for the speculative development of a 4,645 sq m (50,000 sq ft) office block and leisure facility.
B&W’s existing 7,432 sq m (80,000 sq ft) building on Broad Quay has been acquired by Grosvenor Estates for redevelopment.
Chesterton and CIN La Salle Partners advised B&W while Alder King and Castlemore Securities, as development agent, acted for English Partnerships.
EGi News 11/08/97
