A joint venture development could see Bath getting its first major office development in more than two decades. It’s hoped the scheme will end the run of expanding businesses looking beyond the city for extra space while others are forced to scatter staff across a number of separate buildings.
Bath and North East Somerset Council is considering an application for the 113,000sq ft Grade A project which one agent has described as a “game changer” for Bath’s office market.
To be called Number One Pinesgate — and backed jointly by Edinburgh-based Ediston Real Estate and Europa Capital, the London-based real estate fund manager — the new offices would be built on an island site on Bath’s Lower Bristol Road.
Designed by local architects Fielden Clegg Bradley Studios to address what many companies claim is a “20 year shortfall” of quality city office space, it will feature flexible open-plan space over four floors, with parking for 84 cars. It is also hoped the provision of cycle storage, changing facilities and showers will attract environmentally minded firms and employees.
Richard Kidd is a director at joint letting agents GVA. “The lack of significant office development and the resultant lack of Grade A space has led to a number of Bath companies relocating to Bristol and beyond in order to secure suitable office premises as they grow their businesses,” he explained.
“In the meantime, occupiers from further afield, attracted by Bath’s unrivalled lifestyle and its highly-educated labour pool, have nevertheless had to look elsewhere. That is about to change.”
Kidd felt Number One Pinesgate offers a “unique opportunity for occupiers to take a fresh look at Bath and to take advantage of the city’s phenomenal cultural, sporting and professional facilities”.
If planning approval is granted next month the building should be ready for occupation in mid-2016.
The development’s second agent is Hartnell Taylor Cook. Its partner in charge of offices is Chris Grazier. “This will be a high-quality development in a world-class heritage setting and falls within Bath’s City of Ideas Enterprise Area,” he added. “The developers have been working closely with the local planning authority to ensure that the new space will reinforce the strategic vision for the future of the city.”
The Pinesgate One scheme is Ediston Real Estate’s second development within the city’s enterprise zone. The company, which describes itself as having “an unblemished track-record in real estate since launching in 2004” recently completed two 30,000sq ft office blocks built around a large surface car park at Pinesgate.
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