£70m investment deal major vote of confidence for Bristol

Property & Construction | Retail | South West
CGI of Halo office building on former fire station site at Finzels Reach, Bristol City Centre.

Cubex has secured a major investment deal for its sustainable landmark office building at Finzels Reach as construction works get into full swing.

The deal is a positive boost for the city considering the challenges the UK is facing due to the Covid-19 pandemic.

Tesco Pension Investment have paid nearly £70 million in a forward funding deal with Cubex and its initial funding partner, Fiera Real Estate.

Construction works are now well underway with the building currently scheduled for completion in spring 2022.

Peter Walford, director at Cubex, comments: “This is a very significant office investment deal for Bristol, particularly in the current economic climate, and reflects not only the quality of the building we are developing but the strength of interest from the property sector in the city.”

In February, international legal firm Osborne Clarke agreed to take nearly two thirds of Halo – 74,000 sq ft – in a pre-let deal, two years ahead of completion.

The firm will relocate 600 staff from its Temple Quay office into the leading-edge, smart workspace at Halo, taking the top five floors including a private roof terrace.

When complete, 3,300 people will live or work at Finzels Reach and the development will have a total investment value of £400 million.

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