What does future hold for iconic Bristol office block, for sale for first time in 20 years?
An iconic office block at the top of Bristol’s Park Street is being sold for the first time in 20 years – with questions over how it will be used in the future.
The 200 ft Clifton Heights – one of Bristol’s tallest buildings – was originally built in the 1960s as luxury flats, but was converted into an office block in 1968.
Located on The Triangle in Clifton, the 14-storey building – with retail space at ground level and 13 floors of office space above – is a stone’s throw from Bristol University and surrounded by boutique shops, cafes, and bars.
Now the building has been put up for sale with property consultancy Hartnell Taylor Cook and commercial real estate advisory Griffiths Eccles. The agents are seeking offers in excess of £16 million.
The freehold property constitutes a total net area of 71,767 sq ft which, say the agents, is “primed for redevelopment,” creating office space, a residential scheme, student accommodation, or hotel development – subject to planning.
“Initial appraisals suggest the potential for the building to be transformed into 119 apartments, 261 student studios or a 238-bed hotel; and in addition, a considerable 22,825 sq ft of additional massing may also be obtained as part of redevelopment plans,” say Hartnell Taylor Cook.
“Competitively placed in one of the most expensive residential markets in the UK, the site promises to drive significant returns.”
In the immediate term, 26,830 sq. ft. of office space is vacant and available for occupation. There is also parking for 58 cars.
Ian Lambert, investment partner at Hartnell Taylor Cook, said: “We are delighted to bring Clifton Heights to the market alongside Griffiths Eccles.
“It’s an iconic building that has been part of Bristol’s skyline for years; the opportunity to reposition the property is really unparalleled.
“Set against a backdrop of strong economic growth in Bristol and amid a young and dynamic population, we’re really excited to see where Clifton Heights takes us.”
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