Developer Robert Hitchins Ltd has acquired the former TSB offices in the heart of Bristol.
The South-West based property developer intends to refurbish the four-storey building at 21 Prince Street to the highest specification, providing 15,278 sq ft of office space complete with air conditioning, shower facilities, bike stores and 16 parking spaces.
Property and Development Director for Robert Hitchins Ltd, Simon Tothill, said: “This acquisition, our first in Bristol this year, provides an exciting refurbishment opportunity and a chance to create modern offices with a contemporary feel which we are sure will appeal to Bristol’s active occupier market.”
The refurbishment will start shortly and is due for completion by September.
The refurbished offices will suit a variety of occupiers and will be available in suites from 1,500sq ft up to 15,000sq ft.
Acquiring agent, Andy Smith from Knight Frank in Bristol, said the location adjoining Queen’s Square in Bristol’s Harbourside area has seen significant investment in the last 18 months, which in turn has attracted good quality occupiers, for example at the recently refurbished Narrow Quay House opposite which was pre-let to Veale Wasbrough Vizards.
“Queen’s Square has always attracted professional service occupiers. Its attractiveness recently has been amplified because of significant refurbishments of obselete offices for residential which has reduced supply of viable office accommodation,” he said.
“We have also seen a new push from the TMT (technical, media and telecoms) sector as occupiers who want accommodation that offers a creative environment.
“Forward thinking landlords and developers are taking the opportunity to acquire sites in this location with an eye to the future.”
The 1980s offices at 21 Prince Street were the former home of 300 finance, communications and HR staff until TSB moved its operation to a new HQ at Almondsbury Business Park in 2015.
Robert Hitchins is one of the leading property developers in the South West and South Wales. It deals with the full development process from site acquisition and planning through to development and investment.
