February 19, 2019
Cubex Land, the Bristol-based property developers, and the powerhouse behind the regeneration of Bristol have recently been nominated for the Deal of the Year category at both the Property Week and RICS awards.
The shortlistings come as a result of the sale Aurora office building for £62.13m. Aurora is a BREEAM Outstanding development, which was committed to be speculatively built with funding through Palmer Capital Development Fund IV, a programmatic venture managed exclusively on behalf of clients of CBRE Global Investment Partners (‘CBRE GIP’), in June 2016, shortly after the Brexit vote. It was funded with financial skill and expertise and sold in September 2018, delivering a 2.3x EqM geared, after achieving 85% pre-letting during construction.
Perfectly blended in to the wider mixed-use Finzels Reach scheme, Aurora was a best in class development, and a key business generator, which revived both investor and community confidence back in to the local area, which has made it a powerful contender for Property Week’s “Deal of the Year” and RICS’ “Commercial Development of the Year“.
Not only have Cubex received the shortlisting for Aurora, but they have also been nominated for “Regeneration Project of the Year” at this years RICS awards for their scheme at Finzels Reach where Cubex has worked miracles over the past 5 years to restore this part of the city.
Finzels Reach has brought c. £275m of investment to Bristol and has unlocked the regeneration of a neglected area of the city centre, catalysing further development. Cubex has since acquired and is developing the former fire headquarters site opposite as the next phase of Finzels Reach.
Cubex’s policy of using local suppliers has secured jobs, with over 2000 local people employed on the scheme during the development phase and 2,000 permanent jobs as long term legacy. This development has injected a new lease of life to Bristol city centre attracting new occupiers, international investors and media attention that it has not seen for decades.
Cubex Land have a busy year coming up and will be celebrating 15 years in business.
For more information about Cubex Land, please click here.