Iconic Bristol office tower fully let as city centre market shrugs off impact of Covid-19

December 4, 2020
By

Bristol’s landmark One Redcliff Street office building is fully occupied following the letting of its South Wing to a leading international headhunting firm.

The iconic 15-storey building, pictured – built in 1964 and formerly known as the Robinson building – has been extensively refurbished and extended in recent years. But has not been completely let for many years. 

The arrival of executive search specialist Granger Reis, which has taken 3,550 sq ft of refurbished space on a 10 year lease, is the latest in a series of office deals in city centre as the market appears to shrug off the impact of the coronavirus pandemic.

Xledger, the cloud-based finance software provider for mid-market organisations, recently signed the lease on 11,000 sq ft of newly renovated grade A office space at Tower Wharf in Cheese Lane, while global property and construction consultancy Gleeds has completed its relocation from Bristol Parkway North into 7,000 sq ft of eco-friendly space at Aurora, Finzels Reach.

James Preece, director in the national offices team at Colliers International, negotiated the Granger Reis deal on behalf of One Redcliff Street owner Aberdeen Standard Investments.

He said: “One Redcliff is one of Bristol’s most prominent office buildings and has always attracted demand from professional tenants seeking high-quality office space.

“This year has been no exception, and the letting of the South Wing to Granger Reis means that the building is now fully let.”

Joint agent Phil Morton, of Morton Property Consultants, added: “The fact that this letting has been agreed at the end of a year of lockdowns and other restrictions resulting from the Covid-19 pandemic shows that office space in Bristol city centre will continue to attract tenants, particularly if that space is well refurbished and well-located, as is the case with One Redcliff.”

Other tenants in One Redcliff Street, which is on the corner of Redcliff Street and Victoria Street, include national law firm TLT, Hewlett Packard, Aon, Scott Logic, and Booking.com.

When built in 1964 as the 14-storey headquarters of paper and packaging manufacturer Robinsons it was Bristol’s tallest building and was roundly criticised for its stark concrete facade and the fact it towered over the nearby historic buildings in Redcliffe and Castle Park. 

Still one of the city’s tallest structures, it has undergone a high-quality refurbishment in the last few years, which included an impressive remodelled entrance and reception fronting Victoria Street.  A new floor was also added for TLT to accommodate its expansion. TLT now occupies around 90,000 sq ft on the top floors. 

Xledger’s relocation to Tower Wharf follows a record first half for the company as it looks to build a hybrid approach to flexible working and create a ‘destination hub’ for its people.

Xledger, which aims to be a £15m organisation in five years within the UK and £100m globally, said it had made a substantial investment in its new space as it undergoes a significant period of expansion.

Not only can the new hub comfortably – and safely – accommodate a growing number of workstations, it will also boast a host of employee and client breakout areas, pictured above, meeting rooms and entertainment spaces including a bar and a roof terrace, pictured below.

CEO Mark Pullen, who joined the business last year, said: “We have a passion for innovation and success. We fully recognise the need for flexible working, and at the same time understand it’s the people and how they work with one another that makes an organisation special. 

“This is why we’re creating this ‘destination hub’ – a place that, when our employees come in to work, it’s a real privilege to be a part of.

“We’re an open, collaborative, fast-moving company, and we’re aiming to have a team that’s over 50 strong within 12 months. Investing in new premises in the current climate is a true demonstration of our confidence in the market.”

Despite the outbreak of Covid-19, Gleeds said it remained committed to providing staff with physical work spaces that encourage collaboration and a sense of belonging.

It has worked with interior design firm Blueprint to create a flexible, inspiring environment at Aurora which will incorporate high-end audio-visual equipment, new IT and telephony systems, and dedicated break-out working and client zones. 

Gleeds South West director Simon Williams said: “This move represents a shift in approach as we begin to change the ways in which we all work here at Gleeds.

“As we grow the business we want our staff to have access to attractive, sustainable workplaces that are Covid compliant in the short-term, whilst encouraging agile working practices long-term. It’s also important to us that we are at ‘the heart of the action’ in terms of proximity to our clients and their advisers, who we look forward to welcoming to our new offices soon.”

 

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