Bristol: A major European investment location

In recent years Bristol has worked hard to maintain its reputation as the economic powerhouse of the south west with £3bn of investment and regeneration around the city, capitalising on its dynamic business sector, highly skilled workers, world-class research and development and excellent universities.

In 2008, the fDi Magazine rated Bristol second in the top ten large European Cities of the future, while the UK Competitiveness Index 2008, published by the Centre for International Competitiveness at the University of Wales, Cardiff, rated Bristol as the most competitive English Core City. This independent research underlines the strength of the Bristol economy as a leading European city economy and suggests that it is better placed to withstand the pressures of the current economic downturn than many other UK cities.

The city is host to many global companies such as Aardman Animations, Airbus UK, BT, Hewlett Packard, Lloyds TSB, Orange, Rolls-Royce and the BBC. It also has a strong public sector including the Audit Commission, Environment Agency, Ofsted and the MoD’s Defence Equipment and Support.

Building on the success of the Harbourside and Temple Quay developments in the City Centre, a number of major developments are underway that will continue to elevate and transform the city.

Cabot Circus
Cabot Circus, Bristol’s largest city regeneration programme since the post-World War Two reconstruction, opened on September 25th 2008. This £500m, 1m sq ft retail-led, mixed-use development has been delivered by the Bristol Alliance, a partnership between Land Securities and Hammerson.

Harvey Nichols and House of Fraser have both taken flagship stores in the development. Cabot Circus also features a 37,000 sq ft Cinema de Lux (with 13 screens, in a state of the art auditoria), a 120-bedroom hotel and 20 restaurants and cafés, including renowned chef Raymond Blanc’s Blanc Brasserie. Cabot Circus also has more than 161,500 sq ft of office space and over 200 new homes integrated into the development, including 24 affordable homes.

Temple Quarter
Temple Quarter covers around 46 hectares and is a major regeneration project for Bristol City Centre and the area surrounding Bristol Temple Meads railway station. The regeneration scheme has two main sites, Temple Quay and the area surrounding Temple Meads station.

The first phase of the Temple Quay development has attracted significant investment, with nearly 861,000 sq ft of office development now fully let. Major occupiers include Osborne Clarke, Government Office South West, DEFRA, Bank of Ireland (formerly Bristol and West) and BT. The area is fast becoming a regional hub for public sector relocations.

Following the success of the first phase, the second phase of the development (Temple Quay 2) is already under construction with 7.4 hectares of brownfield regeneration, providing a mixed use scheme including offices (655,000 sq ft ‘grade A’ commercial floorspace), 78,000 sq ft retail and leisure areas, 500 new homes, public areas and a new harbourside bridge. The development has already attracted Burges Salmon Solicitors, who have taken a pre-let on 160,000 sq ft of office space. Temple Quay 3, covering the area south and east of Temple Meads Station is currently being planned.

Plans for Temple Meads station itself will transform the Grade one listed building into a modern transport hub in the centre of the city and at the heart of Temple Quarter. When completed, Temple Meads will provide a seamless transport interchange integrating the rail services with buses, taxis, airport coaches, cycling, the river bus and parking. Construction is expected to take about three years and, subject to the necessary planning consents, is scheduled to start in 2010.

Habourside
Harbourside is continuing to experience a cultural renaissance with existing attractions expanding, improving their offer or undergoing radical transformation. The Arnolfini Centre for Contemporary Arts has been remodelled and Watershed is bringing forward ambitious development plans.

The new Museum of Bristol is under construction at Prince’s Wharf and the SS Great Britain continues to develop the Brunel Institute of Engineering on its adjacent site. Aardman Animations is also constructing their new headquarters building at Gas Ferry Road.

Meanwhile, @ Bristol has now secured the long-term future of the ‘Explore’ science and education centre and gained ‘Blue Reef’ aquarium as their new marine life attraction, which will also operate the IMAX. They will be opening in Spring 2009.

The £350m regeneration of Canon’s Marsh is well underway with Phase one and Phase two complete and Phase three now under construction. The residential, office and leisure development features a series of restaurants and cafes set along public open spaces, including a new harbour inlet.

The Soil Association has recently acquired the Capricorn Quay Phase two site, formerly part of the old gas works, for their new headquarters development. In addition, HBOS has now occupied its waterfront headquarters next to Lloyds TSB. The final phase of the Canon’s Marsh development is expected to be complete by 2011.

Cabot House
The Environment Agency has signed up for their new corporate headquarters at Cabot House, a testament to Bristol’s green credentials. Cabot House is being built to meet the BREEAM “excellent” standard, and is set to become one of the “greenest” buildings in the UK. This commercially-led, mixed-use development lies within a Conservation Area and will feature approximately 118,400 sq ft of office floor-space, 78 residential apartments and 4,300 sq ft of retail floor-space.

Templeback
Templeback is a new waterfront development between St Philip’s Bridge and Temple Bridge in the centre of Bristol. The development consists of highly specified ‘grade A’ offices (from 20,000 sq ft to 123,000 sq ft) distributed in six levels, overlooking the floating harbour.

The building will retain its historic, arched two-storey façade, blending in with other historical features in that part of the city. Designed to achieve the 2006 BREEAM “Excellent” rating, work started in 2007 and is expected to be complete in January 2009.

South Bristol regeneration
The regeneration of South Bristol is a major strategic objective for Bristol City Council. Major developments planned for 2008 to 2012 include the regeneration of the former Imperial Tobacco Headquarters by Urban Splash, now renamed Lake Shore. With a total investment of approximately £50m, the development will feature over 400 apartments and 14,000 sq ft of living and working space all set above a restored lake and grounds.

Hengrove Park at over 70 hectares is the biggest regeneration project in South Bristol. This project is intended to contribute to the transformation of South Bristol into one of the most desirable areas in the South West, and has the potential to be an exemplar, mixed-use regeneration project. The site will ultimately feature a range of new homes, employment sites and significantly enhanced public transport as well as a high quality public park.

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