A former office building used by the Bristol Post newspaper has been acquired with plans to redevelop it into one of the largest tech innovation hubs in the South West.
Number one Temple Way, on Old Market, has been bought by investment firms Mission Street and BentallGreenOak for an undisclosed sum.
Planning consent is in place to redevelop the 135,000 sq ft property, originally built in 1974 for the Bristol United Press, which is earmarked for a research and development (R&D) hub capable of supporting growing firms within the city’s burgeoning tech sector.
The scheme, located near Bristol University’s new Enterprise Campus and Temple Meads railway station, has been designed by locally-based architect AHMM and could provide start-ups with laboratory and high-spec office space.
The neighbouring Print Hall, which was formerly the Bristol Post's print-press building, was turned into student accommodation as part of a £25m project completed in 2017.
The building’s new owners said they had been monitoring the Bristol market for the past two years, having already built a portfolio of research sites in Oxford and Cambridge.
They added the building’s “industrial qualities”, including large floor spaces and floor-to-ceiling heights were “ideally suited” for R&D use.
Artem Korolev, founder and chief executive of Mission Street, said the city had “world class academic anchors” as well as several local start-up success stories.
Mr Korolev said: “For us, it has all ingredients to continue to make Bristol a thriving hub for innovative businesses and we will continue to work with the stakeholders to accommodate and support innovative companies via a design-led purpose-built hub in the City Centre.
“Our intention is to work collaboratively, diligently and at speed to create a next-generation science building of local, regional and national significance, retaining and attracting innovative companies to Bristol.”
Toby Phelps, managing partner at BentallGreenOak, added: “There continues to be a severe shortage of supply of high-quality, purpose-built space for the growing Life Science, Deep Tech, and R&D sectors.
“Our partnership is focused on delivering exceptional spaces that meet the needs of the dynamic and innovative companies in the innovation sectors today with consideration for their growth aspirations well into the future.”
The deal comes after plans to transform Bristol’s Temple Quarter - the city’s biggest-ever regeneration project set to create thousands of homes and jobs - secured a £95m government funding boost.
Mayor of Bristol Marvin Rees said: “It’s fantastic to announce further investment into our city as we continue to grow Bristol’s reputation as a centre for cutting edge research and technology.
“Located within walking distance of the Temple Quarter regeneration area and the University of Bristol’s new Enterprise Campus, this new innovation hub will be a welcome addition to Bristol’s burgeoning tech sector and the wider area as we continue to bring new jobs and investment into our city to benefit all communities.”
Like this story? Why not sign up to get the latest South West business news straight to your inbox.
