24th August 2017
PricewaterhouseCoopers (PwC) expands into new offices at 2 Glass Wharf
Acting on behalf of Salmon Harvester Properties/NFUM, Alder King and JLL have let 8,965 sq ft being half the 4th floor at 2 Glass Wharf, Temple Quay, Bristol.
The acquisition of this office expands PwC’s operation at 2 Glass Wharf where they already occupy the 6th, 5th and part 4th floors. The lease term mirrors the existing 15 year lease of the upper floors. PwC was represented in the transaction by CBRE.
The professional services firm has enjoyed significant growth in Bristol and Chris Richmond, PwC’s Head of Real Estate, said: “PwC is delighted to announce it has acquired additional space in its Bristol office that reinforces the firm’s commitment to the city and its status as a National Centre within our network.”
The additional accommodation will provide PwC with a total of 37,400 sq ft at the new Grade A office building in the Temple Quarter Enterprise Zone overlooking the Floating Harbour. Other occupiers in the 98,500 sq ft landmark building include Arcadis Group, Foot Anstey LLP, Markel Insurance and MJ Mappat.
The PwC letting means that just the 2nd floor (16,871sq ft) remains unlet at 2 Glass Wharf. The quoting rent is £32.50 per sq ft. It follows the recent 107,000 sq ft pre-letting of the adjacent 3 Glass Wharf by Salmon Harvester to HM Revenue and Customs.
Rorie Henderson of Salmon Harvester said: “We are pleased with this latest letting and our ability to support the expansion of PwC as an existing high calibre tenant. The Bristol city centre office market is in rude health: we had several offers on the space in excess of £30 per sq ft which leads me to believe the £30 barrier will be beaten this year setting a new rental level for Bristol offices. This latest deal means 2 Glass Wharf holds the current record rent for the second time in its short history.”
Simon Price, partner at Alder King, added: “PwC’s success and expansion in 2 Glass Wharf is a real testament to the quality of the building’s specification and location at the heart of the Temple Quarter Enterprise Zone.”