10 October 2016

Commercial real estate experts from Burges Salmon have advised a joint venture – comprising Change Real Estate, Cannon Family Office and ICG Longbow – on the development of the first phase of Redcliff Quarter in Bristol.

Phase 1 (a 128 unit scheme with ground floor retail) is one of the south west’s largest new build 'PRS' projects with the freehold now acquired by property group A2Dominion, which will market them under its FABRICA by A2Dominion brand for private rent. Construction work is due to start imminently.

Phase 1 forms part of the £180 million, 600,000 sq ft development, located in one of Bristol’s historic trading quarters, much of which has lain derelict for 25 years, which will be transformed into a bustling new neighbourhood that will include a food court, restaurants, a hotel, offices and apartments.

Once completed, the vibrant urban destination will contribute 400-500 jobs and an estimated £7 million per annum into the local economy.

Ron Persaud, Director at Change Real Estate said “We are pleased to have completed the freehold sale of the 128 residential units within Phase 1 at Redcliff Quarter. It is a key transaction for the development that will bring new much needed PRS homes to Bristol and marks the start of construction at Redcliff Quarter."

The Burges Salmon lead partner on the project, Ross Polkinghorne, said: “This is an exciting new development for Bristol, which will bring a range of new jobs and contribute a significant amount financially to the area. We are pleased to have the opportunity to work on such an interesting real estate sector project and look forward to completion of Phase 1 and the start of Phase 2.”

Burges Salmon’s real estate team was pleased to be named Real Estate Team of the Year at the Legal Business Awards 2016 in April and then Real Estate Team of the Year at the Lawyer Awards 2016 in June.

Key contact

Ross Polkinghorne

Ross Polkinghorne Partner

  • Built Environment
  • Development and Regeneration
  • Infrastructure

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