Generator Building, the iconic red brick and stone building by St Philips Bridge at Finzels Reach, is set to become co-working space after contracts were exchanged on its sale.
The striking building on Bristol’s Floating Harbour, which originally housed the generator for the city’s tram system, is being bought from developer Cubex and its funding partner Palmer Capital by a private equity fund manager for its serviced office brand. Completion of the sale is likely to be finalised in spring 2019.
Bristol developer Cubex, together with Palmer Capital, is the driving force behind Finzels Reach, one of the South West’s most significant mixed-used schemes. Over the past five years, an active programme of regeneration has breathed new life into this former brewery site which is fast-becoming one of Bristol’s most exciting new quarters.
Peter Walford, director of Cubex, said: “The new owner for Bristol’s historic Generator Building plans to bring this unique architectural gem back into use as a co-working space, meeting the growing demand from small and fast-growing companies for flexible offices and bringing a new dimension to the mixed community here. Those who work in the new space will be able to benefit from being part of Finzels Reach, a flourishing new neighbourhood in the medieval heart of the city.”
Bristol was the first city in Britain to build an electric tram service and Generator Building was opened in 1899 to supply power to the massively expanding tramways network. The Bristol power station contained four steam engines coupled to four generators and supplied power to the tramway system until 1941, when a bomb hit St Philips Bridge and cut the power cables.
Cubex started regeneration work at Finzels Reach just over five years ago when the team stepped in to develop the site after a previous attempt went into receivership. The first phase of Finzels Reach is already home to high-quality homes, a hotel and modern, sustainable office space, with a micro-brewery, further cafes and a restaurant in the pipeline. Cubex is currently steaming ahead with the refurbishment of the Fermentation Buildings, which will include 16,000 sq ft of inspiring office space due to be finished in summer 2019.