In Bristol’s biggest office letting of 2021, the University of Bristol has taken a 17-year lease on 74,000 sq ft of space at 1 Trinity Quay, in the city’s business quarter of Temple Quay. The building is to become a new dental school following receipt of planning permission to change the use of the building.
Real estate adviser Avison Young completed the off-market sub-let at the waterside offices, on behalf of landlord Nat West, at an undisclosed rental.
Paul Williams, Director of Offices at Avison Young in Bristol said:, “It has been encouraging to see activity return to the office market despite the ongoing issues caused by the pandemic, and the 4th quarter has seen the highest level of take-up recorded this year, with a number of other significant transactions under offer and likely to sign in Q1 2022.
“This deal helped deliver the strong finish to 2021, and at just over 74,000 sq ft, is the largest office deal both in the city centre and out-of-town in the whole of 2021,” says Paul. “With a limited choice of available properties that could accommodate the University’s requirement, this is a significant space in a self-contained landmark building that suited their needs perfectly.”
Trinity Quay on Avon Street comprises space arranged over ground and five upper floors in a waterside setting, with an impressive full height glazed reception area and secure basement parking, and in close proximity to both Temple Meads station and the planned new University Business School on the former sorting office site.
The University of Bristol will be converting 1 Trinity Quay into a new Dental Teaching School, which will include dental surgeries open to members of the public. The new school will put Bristol at the forefront of Dental Schools world-wide.
The University of Bristol was represented by Alder King. Simon Price Partner and Head of Agency at Alder King comments, “This significant acquisition by the University followed a comprehensive search for options across the city. Trinity Quay was selected because of its flexible large floor plates and highly accessible location. The building will allow the Dental School to develop and enhance its offer to more efficiently meet future requirements. ”
CBRE were joint agents with Avison Young.