Landmark Bristol building swaps hands in deal worth £36.5m

A landmark building in the heart of Bristol has swapped hands in a deal worth £36.5m.

The Programme building has been bought by BNF Capital in partnership with Morgan Capitol.

The firm has bought the office block from Resolution.

The Programme building, which is just over 174,387 square feet big, has recently undergone a comprehensive face-lift.

The revamp includes a cafe, educational space designed to foster learning and innovation and a cycle hub.

The scheme has attracted occupiers in the technology, life science and education sectors including Immersive Labs, Cegedim, NMI, Xmos, Sweco, Open Bionic, Buckley Gray Yeoman and Spaces.

Colin Opp of BNF said: “We’re delighted to have completed the purchase of Programme from Resolution, which marks our first acquisition in Bristol. Bristol is an incredible city and BNF couldn’t be more thrilled to be a part of its story.”

Ken Edwards of Morgan Capital said: “This is an important purchase as it shows our continued commitment to buildings with excellent fundamentals, in core locations, that can deliver long term value. We look forward to continuing the transition of Programme into one of Bristol’s finest and most sustainable office buildings.”

Andrew Phillips, director in UK Investments at Savills Bristol, said: “The comprehensive refurbishment of Programme has resonated with occupiers due to its location and access to amenities whilst offering a unique working environment with the added features of a building with scale. We expect the building to continue to capture the strong occupier market in the coming years under new ownership and as surrounding development projects are brought forward.”

Savills acted on behalf of Resolution. Mackenzie Real Estate acted on behalf of BNF and Morgan Capital.