Marvin Rees, Mayor of Bristol, said: “As we face severe recession, contraction to Bristol’s economy and employment losses, news of such a major sustainable investment to bring job opportunities and social value to our city is hugely positive and welcome.
“Working with city partners to achieve Bristol’s potential, our economic renewal should be focused on tackling inequality and building a fair, healthy and sustainable city. This type of sustainable development will help us build back better together.’’
The building will provide some of the largest open plan office floor plates in Bristol of up to 27,377 sq ft. CEG will also offer its ‘Let Ready Go’ studio concept, offering fully-equipped internet ready workstations enabling businesses immediate set up, easy expansion and contraction and access to high quality meeting and amenity space as part of a thriving and collaborative community.
Over 500 construction jobs will be created per annum during the two-year build programme, as well as six local apprenticeship opportunities. Once complete, the building will accommodate over 2,000 people and will deliver £466 million GVA per annum from direct and indirect operational jobs*.
Paul Richardson, investment manager at CEG, said: “We are making an immediate start on site in order to be in a position to offer 200,000 sq ft of the highest quality office space ready for occupation by the first quarter of 2023.
“There is an acute shortage in supply of Grade A offices in Bristol and we’ve already seen a record number of pre let office deals in the city this year. We adopt an innovative approach to leasing, to deliver flexibility, as well as offering tenant fit outs, which reduces an occupier’s capital spend traditionally associated with a relocation.”