Cubex has pre-let 74,000 sq ft of its speculative Halo development in Bristol to Osborne Clarke.
The pre-let, which was tipped by Property Week late last year, will see law firm Osborne Clarke take two-thirds of the Halo developments 12-year lease at £35.50 per sq ft for four floors and £36.50 per sq ft for the top floor with roof terrace. The law firm plans to move its 600 Bristol employees from their current office in Temple Quay to Halo.
Bristol developer Cubex bought the former Avon Fire and Rescue headquarters, which will be home to the next phase of Finzels Reach, in 2018 on behalf of Fiera Real Estate Opportunity Fund IV UK.
Osborne Clarke has agreed to take nearly two thirds of Halo two years ahead of its completion.
Developer Cubex is targeting a BREEAM Outstanding accreditation with the building.
“We are thrilled that Osborne Clarke is on board at Halo so far in advance of the completion of this cutting-edge new office building for Bristol,” said Peter Walford, director at Cubex. “It’s hugely satisfying to see the success of Finzels Reach to date and we are proud that Halo will set new benchmarks for sustainability, wellbeing and digital connectivity.”
“We are in talks with other potential occupiers of Halo and expect to make new announcements soon,” he added.
Steve Wright, director at Fiera Real Estate, added: “We are delighted to have secured an occupier who shares Fiera Real Estates’ passion to create new buildings that offer superior wellness, sustainability and smart criteria to much of the existing standing stock.”
Ray Berg, managing partner of Osborne Clarke UK, also added: “We’re incredibly excited to have Halo as our new Bristol home. Its standout design and sustainability credentials are a perfect fit for us as we look to invest in a new building that will take us into the future and create an exciting working space for our people and clients.”
Knight Frank and Lambert Smith Hampton are the lettings agents on Halo. Morton Property Consultants advised Osborne Clarke on the deal.
Fund manager Fiera Real Estate has provided the finance for Cubex for the next phase of Finzels Reach, following their partnership on the first phase.