PwC’s planned move to showpiece office at Temple Quay strengthens market recovery

October 13, 2014

International accountancy firm PwC is to relocate its Bristol office to the showpiece 2 Glass Wharf scheme at Temple Quay in a move that reinforces the recovery of the city’s commercial property sector.

PwC is taking just over 37,000 sq ft in the 100,000 sq ft office building, pictured below, which is nearing completion, and will relocate more than 350 staff there next summer from its existing base in Great George Street.

The size of the pre-let is being seen as significant, coming as the market continues to strengthen. It is more than twice the size of the previous largest city centre office deal this year. PwC is also understood to be paying a record rent for Bristol of £28 per sq ft.

2 Glass Wharf, which is being developed by London-based Salmon Harvester Properties, is one of two speculative offices schemes underway in the city centre. Together with 66 Queen Square, it is adding nearly 160,000 sq ft to the market. PwC’s announcement also underpins the emergence of the Temple Quarter Enterprise Zone as a new business centre for the city.

Nearby occupiers include Bristol's two largest law firms Osborne Clarke and Burges Salmon as well as banks such as HSBC and Santander and accountants Deloitte.

PwC regional chairman Matthew Hammond said: “PwC has been located in Great George Street for many years, which has been a fantastic home for our business. We have many fond memories, but it is time to move our business forward.

“Bristol is a great place to live and do business and we are dedicated to growing our practice here, providing the highest level of expertise and experience to local businesses.

“Our new office at 2 Glass Wharf will provide a fantastic environment for our clients and our people.”

PwC senior partner in Bristol Katharine Finn added: “2 Glass Wharf will provide a modern, creative work space. Its close proximity to Bristol Temple Meads station at the heart of plans for future developments for the city centre, will ensure connectivity within and beyond the region for generations to come.

“Our new office will secure an efficient and flexible way for our teams to work from an environmentally and sustainable building, reducing our carbon footprint.”

PwC rival KPMG, currently based at 100 Temple St near Temple Meads station, is also seeking a new office and is understood to have consider 2 Glass Wharf.

Salmon Harvester Properties development director Rorie Henderson said: “2 Glass Wharf is taking shape as the city’s flagship office building and we are delighted to have signed such a prestigious tenant. We have always had every confidence in the Bristol market and this is the first of our three development projects planned at Temple Quay.”




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