Iconic Bristol building is bought by London investors
One of Bristol’s best-known buildings has been sold to a investment firm for an undisclosed amount.
Lloyds Bank have been looking to sell the Canons House on the Harbourside for some time.
The distinctive building was built for the bank but due to changes in working practices it was deemed surplus to requirements.
At one stage 2,300 staff worked in the building which overlooks a large amphitheatre style space. The space has been regularly used for festivals and concerts.
The new owners are now planning a £40m refurbishment of the Grade II-listed building.
London-based real estate firm Longstock Capital and investment firm Mactaggart Family and Partners have announced they have bought Canons House for an undisclosed sum.
The new owners confirmed the purchase of the 190,000 sq ft estate, and said they would begin a “comprehensive” retrofit, with delivery due in 2025.
A statement said: “Bristol’s robust occupational market fundamentals, coupled with increasingly attractive pricing in the office sector and our understanding of the requirements of the contemporary office, make Canons House a natural choice to expand our collaboration.”
Longstock and Mactaggart said: “We thank Lloyds Banking Group and their advisors for trusting us to be the new custodian of this celebrated building; we look forward to working with local stakeholders to reimagine Canons House as a truly differentiated occupational solution of which Bristol can be rightfully proud.”
Agents CBRE acted for Lloyds Banking Group while law firm DLA Piper represented the purchaser. Property firm Savills will be marketing leasing opportunities at the new revamped scheme.
