AEW UK Core Property Fund secures new tenant at 730 Aztec West, Bristol

AEW UK Core Property Fund is pleased to announce that it has secured two new tenants at 730 Aztec West. Integral UK Limited, the leading provider of mechanical, electrical and fabric maintenance services in the UK, has agreed a new 10-year term on the second floor of the building measuring 13,408 sq. ft. Integral now occupies the entire second floor of the building, amalgamating its offices across Bristol into one single floor.

CEVA Limited has also taken part of the first floor, 2,554 sq. ft., in Q4 2019 resulting in a successful flurry of lettings for the Landlord.

Acquired by AEW UK Core Property Fund in 2014, 730 Aztec West is located just off junction 16 of the M5 motorway and is seven miles from Bristol city centre. It is widely regarded as Bristol’s premier Business Park. In 2016, AEW UK Core Property Fund, undertook a £2.5m refurbishment of the site to include a newly reconfigured reception area, upgraded common parts, refurbished office floors including new M&E throughout, shower facilities and secure bike racks. Other tenants in the building include Taylor Wimpey on the ground floor, who took occupation in 2016, and Original Insurance Services.

There is one remaining suite of 5,504 sq. ft. on the 1st floor of the building.

Commenting on the new agreement, Michael Shears, AEW UK Core Property Fund, said: “Following AEW’s active asset management of 730 Aztec West, we are delighted to have secured this agreement with Integral UK Limited, allowing them to bring together their operations under the same roof. In addition we also welcome CEVA to the building.”

Seonaid Butler from Cushman & Wakefield commented: “The high-quality refurbishment carried out by AEW has repositioned the building as one of the best on the Business Park which is evident from the occupiers that have taken space in the building including Taylor Wimpey and Integral. We have witnessed positive rental growth over the last 24 months and are confident that this will continue with only one suite currently available”.

Cushman & Wakefield and Knight Frank are joint agents on the building.