Crest Nicholson - Offices - Bristol, Parkway North

Date: 26 Sep 1997

Offices: Bristol, Parkway North

Joint developers of the Bristol Parkway North business park, Crest Nicholson Properties and Kyle Stewart Properties, have agreed a £6.3 million prefunding deal with in-house clients of Gartmore Investment Management, Lothbury Property Trust Company Ltd, to develop the next phase of the highly successful business park next to Bristol Parkway railway station. The initial yield is equivalent to 8.25%.

To be called 'Great Western Court", the four new office buildings in this latest phase of development will total 3,419 sq m (36,796 sq ft) on a 1.12 ha (2.8 acre) site, part of Plot 3000. Construction will begin in October and completion is anticipated in July 1 998.

Keith Archer, development manager at Crest Nicholson Properties says: "Our research shows that there is significant demand in the North Bristol area for quality office buildings in the 557 sq m (6,000 sq ft) to 1,115 sq m (12,000 sq ft) range. This is exactly where we are pitching Great Western Court. Enquiries are already at a healthy level.'

Great Western Court will comprise four individual buildings as follows:

Building	3110	943 sq m	(10,148 sq ft)
Building	3120	776 sq m	(8,348 sq ft)
Building	3130	576 sq m	(6,200 sq ft)
Building	3140	1,124 sq m	(12,100 sq ft)

All four buildings will be of superior specification with slate and brick exteriors. The interiors will include fully accessible raised floors, central heating and provision for air conditioning. The buildings will have suspended ceilings, and impressive entrance and reception areas. A total of 191 car parking spaces will be provided.

Additionally, there is likely to be a neighbourhood centre on an adjoining 0.2 ha (half acre) site which would provide a number of small shops. Bristol Parkway North already offers superb facilities for occupiers including a Jigsaw day nursery and Esporta, a private health club operated by First Leisure.

DTZ Debenham Thorpe advised the development partners. Alder King and Hartnell Taylor Cook are the letting agents.

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