66 Queen Square

Bristol

Ten long leasehold interests were acquired in 2011 from a distressed seller and their lending bank prior to administration, encompassing an entire island site situated on Bristol’s most prestigious office address. The leaseholds were restructured into one institutional grade asset and planning consent was then obtained for 60,000 sq ft NIA Grade A offices. Following detailed discussions concerning a development joint venture, the site was then profitably sold to Skanska who commenced development speculatively and went on to secure KPMG as tenant at a record rent for the city in 2014. The completed development also set record low yields for the Bristol market when sold to Aviva in 2015, and again to M&G in 2017.

Use: Grade A office
Size: 60,000 sq ft