Portfolio

Halo, Bristol

This scheme is fully in line with our investment thesis; the development of best in class sustainable and tech enabled commercial and residential real estate in prime locations
Chris Button, Head of Value Add REIM
Purchase Date
June 2018
Purchase Price
£18m (inc residential plot)
NIY
n/a
Fund
Palmer Capital Development Fund IV
Property Company
Cubex
Features
  • A prime site comprising the former Bristol and Avon fire station in central Bristol
  • Acquired unconditionally and obtained planning for a 116,000 sq ft Grade A office development (Halo), together with 297 residential units (Millwrights Place and Coopers Court)
  • Construction is now underway for Halo
  • Osborne Clarke have pre-let 63% of Halo and the building was sold to Tesco Pension Fund in June 2020 for £69.4m, a net initial yield of 5.65%
  • Sale of Millwrights Place (residential) to Grainger for £63.1m (3.75% NIY) and Coopers Court to Yarlington for £10.8m completed in December 2020
Purchase Rationale
  • Prime city centre location
  • Superb regeneration opportunity in one of the UK’s strongest regional cities
  • Prime Grade A office development designed to meet changing occupier needs in supply starved market
ESG

Certifications

  • Target BREEAM Outstanding
  • Target EPC ‘A’
  • WiredScore Platinum
  • Cycle Score Platinum
  • WELL Standard Pass certification

Resource use and efficiency

  • 35% energy saving*
  • 47% less carbon emissions*
  • 69% less waster consumption**
  • Connecting with Bristol’s district heating network for low carbon heating

Renewable energy

  • Roof-mounted photovoltaic panels
  • Regeneration of energy from descending lifts

Health and wellbeing

  • Ventilation system supplying 20% more fresh air to occupants than required by building regulations
  • Rooftop garden
Location
  • Temple Back Fire Station, Temple Back, Bristol BS1 6EU

Related Case Study Media

June 02, 2020

Halo receives a WiredScore ‘Platinum’ rating

We are delighted to announce that Cubex and Fiera Real Estate’s latest project in Bristol has been awarded with  WiredScore ‘Platinum’ rating, the highest level of certification available. The Grade

Read the article

February 05, 2020

First deal signed for Halo, funded by Fiera Real Estate, is set to be one of the UK’s greenest office buildings

​​Cubex, funded by Fiera Real Estate, has secured a significant pre-let for Halo, its landmark green office building that will form the next phase of the award-winning Finzels Reach in

Read the article

May 29, 2019

Joint agents appointed on Cubex’s landmark, ‘smart’ office building for Bristol, named Halo

Bristol developer Cubex has appointed property agents Lambert Smith Hampton and Knight Frank to market Halo, the landmark, new ‘smart’ office building that will form part of the next phase

Read the article

Contact Us

Please have a look at our teaser or get in touch with a member of our team.

Download Teaser
  • Please fill out this form to access this PDF.

  • Self-Certification
    The information provided in this document is reserved for professional and institutional investors only and is not intended to be viewed in the United States or by US Persons.

    By clicking “I accept” you:

    • are a professional client as defined by the Financial Conduct Authority in the United Kingdom (COB 3.5).
    • are not a US Person (including being a US citizen or resident, or company incorporated under US law).
    • acknowledge and agree to the terms of the Privacy Policy.
Contact Us
  • Please fill out this form to access this PDF.

  • Self-Certification
    The information provided in this document is reserved for professional and institutional investors only and is not intended to be viewed in the United States or by US Persons.

    By clicking “I accept” you:

    • are a professional client as defined by the Financial Conduct Authority in the United Kingdom (COB 3.5).
    • are not a US Person (including being a US citizen or resident, or company incorporated under US law).
    • acknowledge and agree to the terms of the Privacy Policy.