BlackRock has won consent to redevelop its 151,000 sq ft Bristol office scheme Portwall Place, creating floorplates of up to 38,000 sq ft – the largest in the city.
The refurbishment will add a café, gym, a 4,000 sq ft communal rooftop terrace with a covered pavilion, terraces on all floors, an auditorium and a conference space to the building, which is in Bristol’s central business district, three minutes from Temple Meads station.
The scheme will also provide 262 cycle spaces, 262 lockers and 16 showers, whilst retaining 89 car parking spots.
Blackrock is targeting sustainability credentials including EPC ‘A’, BREEAM ‘Excellent’ and NABERS ‘4.5*’ for the refurbished building,
BlackRock acquired in 2013 for over £50m, below the £53m asking price.
London-based real estate firm LS Estates has been appointed as development manager with funding from BlackRock Real Estate. The redevelopment is set to be completed by the end of 2027.
RED Construction is the main contractor, Buckey Gray Yeoman the architect and Workman the project manager, while Cushman & Wakefield and CSquared are joint leasing agents on the building.
Steve Lane, head of office agency, Bristol, at Cushman & Wakefield, said: “Bristol city centre office take-up reached 604,000 sq ft last year, the strongest since 2022, with grade-A space accounting for over half.
“With vacancy at just 2.5% and limited new supply, Portwall Place will deliver much-needed grade A space and help set a new benchmark for prime rents in Bristol.”
CSquared partner Seonaid Butler added: “The transformation of Portwall Place will provide best-in-class, grade-A floors, strong amenity and 7,600 sq ft of terraces with outstanding city views.
“Its prominence and location are expected to attract high-quality occupiers and drive prime rents in the city centre.
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