AXA Investment Managers – Real Assets (“AXA IM – Real Assets”) has secured a pre-let agreement for 201,000 sq ft, at Assembly Bristol, with BT Group (“BT”), the FTSE 100 British multinational telecommunications company.
Assembly Bristol is the flagship mixed-use regeneration scheme centred around a best in class flexible and smart workspace offering in the centre of Bristol, being developed by AXA IM – Real Assets on behalf of clients, with Bell Hammer retained as development manager.
BT has preleased the whole of Building A, an 11-storey building which is due to practically complete in 2020 and will be the first phase delivered as part of the overall 320,000 sq ft development. BT has agreed a 20-year lease on the building [as part of its UK wide office consolidation programme], The Better Workplace Programme, with the first staff expected to move in in 2021.
The development is at the heart of the well-connected urban area of Bristol and a short walk to the city centre, Temple Meads Station, Cabot Circus shopping and the Floating Harbour via a new river walkway included as part of the plans working with Bristol City Council.
JLL acted on behalf of BT and Savills acted on behalf of AXA IM – Real Assets. Savills and JLL are joint letting agents for the project.