European fund manager Aerium has let 27,000 sq ft in Bristol to marketing services group Creston at its West Wing, One Glass Wharf scheme.
It is understood that Creston has taken the space on a 10-year lease at a city headline rent of £27.50 per sq ft.
The building, which is located close to Bristol Temple Meads station at Temple Quay, sits within the newly designated 173-acre Temple Quarter enterprise zone.
One Glass Wharf was originally developed by Castlemore Securities, which went into receivership in early 2010. It comprises a total of 216,000 sq ft of office space, of which 175,000 sq ft is occupied by law firm Burges Salmon. The latest deal leaves around 15,000 sq ft available.
Aerium bought the scheme in March 2011 from the administrator PwC for £83m, a net initial yield of 6.8%.
Robin Carr, Aerium’s UK fund manager, said: “We are delighted to have secured Creston as the next major occupier at One Glass Wharf in one of Bristol’s largest deals in 2011, reinforcing the Fund’s strategy of focusing on prime stock, which continues to let even in challenging market conditions.”
Alder King and DTZ represented Aerium; Edward Charles & Partners represented Creston.
daniel.cunningham@estatesgazette.com
