Triodos Bank has announced the purchase of its UK head office on Deanery Road in the centre of Bristol. The sustainable banking specialists have bought the 30,494 sq ft Grade A premises from their current landlords, UK & European Investments, for £11 million.
Triodos Bank moved into the premises in February 2012. The building was part of UK & European Investments` award winning mixed use development, including the Environment Agency offices in Deanery Road.
As well as the head office, Triodos Bank’s investment includes the property at 1 St George’s Rd, home to award winning sustainability communications agency 375 and their innovative event space OpenSpace.
Triodos Bank Managing Director Charles Middleton said: “We’re delighted to have secured the purchase of our offices. The building is an ideal home for Triodos Bank and reflects our values and ethos. It not only meets exceptionally high environmental standards, but we’ve made sure the space reflects our approach to business, sustainable materials and showcasing the work of local artists and craftspeople. Buying the property cements our commitment to our Bristol location for the long-term and gives us greater flexibility with the space and a solid asset for the future.”
John Stacey, Asset Management Director for UK & European Investments said: “Our long-term strategy in the UK is to pro-actively manage our investment portfolio and to pursue opportunities to maximize value and returns. We see this transaction as a strategic sale of an asset where the business plan has been successfully implemented, at a time when there is significant demand for UK Regional Office Investments. The business will continue to focus on new investment and value-add opportunities in key towns and cities throughout the UK and Europe in line with wider longer term investment strategy.”
TLT/Burges Salmon acted as legal advisors and GVA/JLL were commercial property advisors on the deal.