• Swindon & Wiltshire Property
• Wednesday September 11 2024
• Author Name: Peter Davison

Former property consultancy HQ to be converted into apartments

The former headquarters of property consultancy Hartnell Taylor Cook has been sold for housing – with two of the firm’s partners acting for the new owners.

Investment surveyor James Frost and investment partner Ian Lambert acted for Acorn Property Group in its acquisition of Somerset House.

Hartnell Taylor Cook first occupied Somerset House – a 14,000 sq ft office block in the heart of Clifton Village – as a tenant in 1989 before moving to Nightingale House, opposite the Downs, in 2021.

Prior to the move Somerset House – which was built in the 1960s – was sold to a fund, and in 2023 Hartnell Taylor Cook advised its long-standing client Acorn on the building’s acquisition.

Following planning permission for change of use, Acorn will convert the former office building into thirty apartments, along with five new-build apartments subject to planning.

“Each apartment will be built to a high-quality specification and designed to maximise space for modern living,” says Acorn.

The move follows a wider trend of office-to-residential development across the city as residential values continue to rise under the influence of a buoyant market.

Ian Lambert said: “It’s been great to be involved in the last leg of Somerset House’s journey.

“Clifton Village presents a prime opportunity for residential development and Somerset House provides the perfect asset and location for a new residential scheme.

“With residential values and demand growing, the decision to redevelop the property seems an obvious one.”

Chris Grazier, office agency partner at Hartnell Taylor Cook, added: “Whilst office values have remained robust, the decision to pursue an alternative use here is something that we are increasingly seeing in the wider market. The market is ever-changing and whilst Somerset House has played its part as a prime office location over the past few decades, it’s time for a new chapter ”.

Robin Squire, regional managing director of Acorn’s Bristol region, said: “We are thrilled to have acquired Somerset House, a prime site in Clifton Village, with the support of Hartnell Taylor Cook.

“We look forward to transforming Somerset House into an exceptional residential development, bringing high-quality homes to one of Bristol’s most prestigious locations.”

Knight Frank acted for the institutional vendor.

Image credit: Stride Treglown architectural practice