Palmer Capital and Cubex Land have let Bristol’s largest city centre office to EDF Energy, paving the way for the building’s sale.
EDF has secured a 15-year-lease on the remaining 81,202 sq ft at Bridgewater House, following a government deal with Chinese investors to build an £18bn nuclear power station at Hinkley Point in Somerset.
The energy firm will pay £27.50 per sq ft for the ground to third floors and will join tenants Barclay’s Bank and BDO.
Strutt & Parker and Savills have now been appointed to sell the fully let 115,000 sq ft building, seeking offers in excess of £56.5m – a 5.25% yield.
Bridgewater House forms part of Finzels Reach, a mixed-use regeneration scheme on a 4.7-acre site that will eventually include a 168-bedroom hotel and over 400 flats.
Knight Frank and Savills advised Palmer Capital and Cubex Land; BNP Paribas acted for EDF.
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