BNF Capital, working with Morgan Capital, have agreed the purchase of Programme, Bristol from Resolution for £36.5m.
Programme is a 174,387 sq ft landmark office building, arranged over basement, ground and eight upper floors. The property has undergone comprehensive refurbishment to high specification and provides café facilities, educational space, a cycle hub, highly specified showers, changing facilities and a drying room.
Programme is located in the heart of the city centre, close to the historic old city and nearby local amenities including Castle Park, The Floating Harbour, St Nicholas Market, Broadmead, The Galleries and Cabot Circus.
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 says: “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 says: “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, says: “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.
