The demolition of one of Bath’s last remaining 1960s office blocks is putting a “significant” squeeze on the city’s commercial space, according to one agent.
Despite being empty for more than six years, the bulldozing of Kingsmead House on James Street West to make way for a new hotel will instantly remove 10,000 sq ft of office space from Bath’s already constricted commercial property portfolio.
“The news that this office tower is going to make way for a new hotel is unlikely to upset too many people – least of all in the commercial property world – but its loss does represent another significant reduction in the amount of commercial space available in the city,” says Paul Williams, of property consultants Bruton Knowles.
“Although there is still ample space in and around Bristol, especially out of town, commercial property in the centre of Bath is becoming increasingly hard to find and will inevitably begin to compromise business moves and new starts in the city,
“Kingsmead House might not quite fit the bill in terms of today’s usual office requirements, but on the other hand it is not immediately obvious where companies heading to Bath hotspots will look instead,” he added.
The slab-sided concrete and glass eight-storey office block – which towers above the busy road junction linking the city centre to the Green Park station complex – was home to the Department for Work and Pensions for almost 30 years until it moved out in the autumn of 2008.
Two years later developer Telereal Trillium unveiled plans to demolish the building and replace it with a 190-bedroom, four-star hotel in the heart of the World Heritage city.
Despite receiving approval from Bath and North East Somerset Council and short listing potential operators, last month the company sold on the site to Apex Hotels which is pressing ahead with the £35m scheme. Construction work is expected to start next year with the hotel opening in 2016.
The centre of Bath has seen no significant office development for more than two decades mainly because of a rigid planning strategy aimed at protecting the Georgian tourist destination.
The result, Williams says, is an ever increasing shortage of Grade A office space that has resulted in a number of local companies being forced to consider relocating to Bristol and beyond in order to secure suitable premises as they grow their business.
Previous Post
Buccleuch off-loads three more Industrial Assets
