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Planning Success for 4 Glass Wharf

Planning Success for 4 Glass Wharf
12th January 2018

Salmon gains consent for major Bristol HQ

Salmon Harvester Properties (Salmon) has been granted planning consent by Bristol City Council for a 210,000 net sq ft office headquarters building at 4 Glass Wharf, Temple Quay, Bristol.

4 Glass Wharf is the third and final phase of Salmon’s development programme in Bristol’s Temple Quarter Enterprise Zone, which is adjacent to Temple Meads station and Floating Harbour.

Salmon has already completed 2 Glass Wharf, a 101,000-sq. ft. net office building let to PwC, Grant Thornton, Aracadis Group and Foot Anstey LLP and has 3 Glass Wharf, a 110,000-sq. ft. net office pre-let to HMRC, under construction and scheduled for completion in Q4 this year.

Salmon Development Director Rorie Henderson said: “The development of 4GW will bring our development programme on offices in Bristol to over 400,000 sq. ft. in the last 5 years. This latest phase will be Bristol’s biggest new office development in the last decade and at a time when there is virtually no new Grade A office supply in the city centre. We already have strong interest from potential occupiers and have been shortlisted by an occupier and are very excited by the prospect of delivering the building.

“When we committed to develop 2 Glass Wharf Grade A headline rents were £27 per sq. ft. and now the city is achieving over £32.50 per sq. ft. with investors keen on purchasing quality offices.”

The consent comes following four consistently strong years of city centre office take up but at a point where supply is severely restricted and at a 20 year low with only one new office building under construction.

Simon Price of letting agent Alder King said: “It is of great significance to Bristol where there are currently concerns that the lack of office supply will result in the loss of potential relocations and existing occupiers to other regional centres.”