The Bristol office of DTZ, a UGL company, has acquired new premises on behalf of Business Growth Fund (BGF) at Hartwell House, Victoria Street in Bristol city centre. The organisation has taken 1,500 sq ft of grade A space on a five year lease.
BGF is a £2.5 billion equity investment company established to provide long-term capital to fast-growing small to medium-sized UK businesses. Previously based in serviced office accommodation at Temple Meads, BGF required a permanent base within Bristol’s central business district (CBD). An off market opportunity was identified at Hartwell House in overflow space unoccupied by Baker Tilly.
BGF’s regional team for the South West of England and South Wales has just completed its fourth investment when it backed Barry-based Swanbridge Hire and Sales (SHS), a specialist provider of high specification industrial scaffolding services, with £5.4 million of growth capital. This represented the Bristol team’s first investment in a Welsh business.
Paul Oldham, Regional Director of Business Growth Fund commented: “We initially established ourselves in the Bristol market in serviced offices, however as the team has grown and our involvement in the region has increased, we required a base in the city from which we can continue to expand. We are delighted to be moving to a permanent home in Hartwell House; the location will allow us to build on the success we have already had in the south west.”
Andy Smith, Surveyor at DTZ in Bristol, commented: “BGF’s requirement was for 1,500 sq ft of grade A accommodation in the CBD. Following a search of the options on the market it became apparent that the right building was not openly available. After some lateral thinking and an exploration of alternative options, the space at Hartwell House was identified, with the location and specification meeting the BGF’s corporate image and business needs.”
Catherine Collis who acted on behalf of the landlord, Baker Tilly said: “We are delighted that BGF have sourced the right accommodation in an excellent location. Hartwell House is a top quality building that offers a professional working environment in the heart of the city centre”
Paul Oldham added: “In the current economic climate, BGF offers a tremendously exciting opportunity for UK companies, which is about more than just financial investment and returns. We are offering a collaborative approach to financing expansion, working closely with the companies in which we invest. The aim is to unlock the potential of fast-growing UK businesses that need long-term capital to drive their future success.”
