16th December 2015
2 Glass Wharf secures Bristol city centre’s largest office letting of 2015
Salmon Harvester/NFUM have let the first floor of its £40 million flagship office development 2 Glass Wharf in Bristol to the global Design & Consultancy firm for natural and built assets, Arcadis. At 16,796 sq ft, this is the largest city centre office letting of the year so far.
Arcadis joins PwC who already occupy over 28,000 sq ft over three floors in the 100,000 sq ft building which completed in April this year.
As a result of this latest letting and the very limited supply of new Grade A space in the city centre, Salmon Harvester/NFUM have immediately increased the quoting rent on the remaining 45,000 sq ft of office space in the property to £30.00 per sq ft.
Rorie Henderson, Director at Salmon Harvester, said: “We’re delighted to have secured another strong covenant in the building and to have it over 50% let. 2 Glass Wharf has previously set new office rental levels for Bristol and we’re confident that we’ll push through the £30 per sq ft level in 2016.”
Richard Bonner, Director and head of the Arcadis Bristol operation, said: “Following a rigorous selection process, we are very pleased to have agreed terms to take the first floor at 2 Glass Wharf. The building provides highly flexible and prominent Grade A space over a single floor and importantly for us is located close to Temple Meads station and within the Temple Quay Enterprise Zone.
“This relocation provides us with the opportunity to bring all our Bristol staff into one location and situated over a single floor, following our move to a single, global Arcadis brand earlier this year. In bringing together the heritage EC Harris and Hyder names under one single entity, we now have more than 160 talented people working in Bristol alone, and this new office location allows us to truly realise the benefits that come from greater collaboration.”
Arcadis staff will relocate from their current offices at Portwall Place and the Pithay
The company has signed a 10 year lease. Alder King acted for Salmon Harvester/NFUM and Gerald Eve represented Arcadis.
Alder King partner Simon Price added: “We’re delighted to have helped secure two highly prestigious occupiers for 2 Glass Wharf. This latest significant transaction puts the property in a strong position as we go into 2016. We’re already in discussion with other parties regarding the remaining floors which we hope will come to fruition early next year.”