Resthaven Properties Limited, part of Topland Group Holdings, has sealed the South West's largest office letting this year to Clerical Medical Investment Group at its building at Harbourside Bristol, United Kingdom.
Having just completed the 170,000-ft² flaghip office building, Resthaven has now concluded the lease of Building 12 Harbourside with Clerical Medical for a term of 25 years. The rent is £23.00/ft² with fixed rent increases of 2.5% compound for the first three reviews, with two more fixed rental increases thereafter.
The building, designed by Aukett Fitzroy Robinson, will be Clerical Medical's new regional headquarters. As one of the City's largest employers Clerical Medical's relocation from its existing buildings across the city will unlock a wave of new developments. It will have all its staff in occupation by December.
Speaking on behalf of Gibraltar-based Resthaven Properties, Topland's head of asset management in the UK Steve Pope said: "Resthaven Properties has asked me to convey its delight that one of Bristol's leading employers will occupy what most Bristol agents describe as the city's finest new office developments.
"The building is filled with natural light from a breathtaking triangular atrium and offers stunning views across what must be one of Europe's most exciting waterside regeneration projects."
Bristol, which has the third largest financial sector outside London, looks set to enjoy a record year on the lettings front. One of Clerical Medical's close neighbours will be financial adviser Hargreaves Lansdown which has just taken a 100,000-ft² prelet from a rival developer.
Resthaven were advised by project managers, Gleeds, technical experts, AYH, solicitors Addleshaw Goddard and the Topland Group's UK management company, Berkley Estates London Limited.