Deutsche Postbank AG London Branch as agent and Security Trustee for Finzels Square Limited, Bridgewater Plaza Limited, Finzels Commons Limited and Counterslip Centre Limited, have appointed Savills directors Julian Clarke and Kevin Mersh as LPA Receivers over Finzels Reach in central Bristol.
The former Courage Brewery site is a major mixed use regeneration project, which commenced in 2009 and has been part completed. The scheme includes office, residential, leisure and retail elements with completed phases comprising:
Bridgewater House - a 118,000 ft² (approx. 11,000 m²) office building part let to BDO The Malt House and Castle Wharf private residential apartment blocks.
Planning permissions exists for The Temple Building, a 164,000 ft² (approx. 15,240 m²) speculative office, further apartment blocks with retail units as well as leisure elements and the Fermentation Building and Hawkins Lane. Finzels Reach also includes The Generator Building, a vacant 30,000 ft² (approx. 2,790 m²) listed building.
Kevin Mersh, director at Savills and appointed LPA Receiver, comments: “Initially we will undertake a strategic review of the asset, which will take a number of months and we are not anticipating an immediate sale of the entire scheme or its component parts. It is business as usual at Finzels Reach and our appointment means that the delay in progressing this important project is nearly at an end.”
Source: Savills UK