BNP Paribas picks CBRE IM’s Bristol block for South West office

BNP Paribas Real Estate has agreed to relocate its South West office to CBRE IM’s Halo office block in Bristol. The company has agreed to take 3,000 sq ft on the ground floor of the building, which is a slight reduction on the 4,000 sq ft the company took in Portwall Place in 2014. Etienne Prongué, chief executive for the UK at BNP Paribas Real Estate, said: “This move reflects our wider commitment to sustainability, innovation and providing a UK workspace offering that promotes increased collaboration and wellbeing for our team and clients. “We made great strides in recent years with the success of our Glasgow office relocation andm most recently, with our London moves, which has been a valuable play in further developing our positioning. Halo forms the latest part of this strategic drive as we actively review our overall portfolio to fit our operations.”  BNP PRE has made several upgrades to its UK portfolio, such as moving its City office to the 18th floor of 5 Aldermanbury Square, EC2, and subletting its former space on the second and third floors of the building. It also moved its London HQ to its parent company BNP Paribas Group’s Harewood Avenue campus in Marylebone, NW1, and has a West End office at 24 Savile Row, W1. The company also moved its Glasgow office to HFD Group’s 177 Bothwell Street block in 2022. BNP Paribas’ fellow tenants within the new building will include companies such as Deloitte, which occupies 29,230 sq ft across the building’s first and second floors, and law firm Osborne Clark, which took 73,991 sq ft in the building in 2022. Just one 8,200 sq ft ground floor suite remains available within the building. CBRE IM acquired the 116,113 sq ft building last year from Tesco Pension Fund for just under £70.2m. BNP PRE was advised by Tesson Consulting and CBRE IM was advised by Knight Frank and Lambert Smith Hamptons. Image © BNP Paribas Real Estate