January 9, 2018
Salmon Harvester Properties (Salmon) has been granted planning consent by Bristol City Council for a new 210,000 net sq ft office headquarters building at 4 Glass Wharf, Temple Quay, Bristol.
4 Glass Wharf is the third and final phase of Salmon’s development programme in Bristol’s Temple Quarter Enterprise Zone, which is adjacent to Temple Meads station and the Floating Harbour.
Salmon has already completed 2 Glass Wharf a 101,000 sq ft net office building let to PwC , Grant Thornton, Arcadis Group and Foot Anstey LLP and has 3 Glass Wharf, a 110,000 sq ft net office development pre-let to HMRC, under construction and scheduled for completion in Q4 this year.
Salmon Development Director Rorie Henderson said: “The development of 4GW will bring our development programme on offices in Bristol to over 400,000 sq ft in the last five years. This latest phase will be Bristol’s biggest new office development in the last decade and at a time when there is virtually no new Grade A office supply in the city centre. We already have strong interest from potential occupiers and have been shortlisted by an occupier and are very excited by the prospect of delivering this building.
“When we committed to develop 2 Glass Wharf grade A headline rents were £27 per sqft and now the city is achieving over £32.50 per sq ft with investors keen on purchasing quality offices.”
The consent comes following four consistently strong years of city centre office take up but at a point where supply is severely restricted and at a 20 year low with only one new office building currently under construction.
Simon Price of letting agent Alder King says: “ It is of great significance to Bristol where there are currently concerns that the lack of office supply will result in the loss of potential relocations and existing occupiers to other regional centres.”