Lambert Smith Hampton (LSH) has acted on behalf of Picton, the UK REIT, to lease 19,081 sq ft of space to law firm, Ashfords in Tower Wharf, Bristol.
Tower Wharf spans 70,800 sq ft and overlooks the River Avon in Bristol city centre providing high quality space across its floor plate. It’s a high spec headquarters building, with a BREEAM rating of excellent, adjacent to the expanding Enterprise Zone and walking distance to Temple Meads Station.
Picton has recently invested in refurbishing Tower Wharf to upgrade the reception area, and create new basement bike and shower facilities. The changes have been implemented as part of a programme of works to ensure the needs of the modern occupier are continually met. Ashfords, already seated on the ground floor of the building, now has additional capacity to expand into.
Across the first quarter of this year, Bristol has seen unprecedented levels of demand with take up of 220, 000 sq ft, a full 50% above the 10 year average, according to the Office Agents Society of Bristol. As a result current availability is just 455,000 sq ft, representing 3.6% of local office stock.
Morton Property Consultants advised Ashfords. Lambert Smith Hampton and Colliers International acted jointly on behalf of Picton.
Roxi Foster, Associate Director – Office Advisory at LSH, added: “We are delighted to let the space to Ashfords and this demonstrates that even in times of economic uncertainty there is still a good level of demand for high quality space which meets the needs of modern day occupiers. By carrying out improvements to the communal facilities we have been able to retain a high quality occupier in the building.”
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