CEG’s EQ sets new big six headline office rent

CEG has clinched a new headline office rent for the big six regional cities with its latest letting deal at the EQ development in Bristol. Regional legal service business Knights has agreed to move to a 60-person office at the development, at 111 Victoria Street. The 10-year lease, for 6,000 sq ft at £48 per sq ft, has exceeded headline rents in Bristol and the remaining big six markets of Birmingham, Edinburgh, Glasgow, Leeds and Manchester. EQ is now 84% let. Knights will join HSBC, Arup, Evelyn Partners, Dojo, Rathbones, Rund and Baxter Storey at the 200,000 sq ft building, which is the largest speculative office development in the south of England to complete. It will accommodate more than 2,000 workers. James Christacos, client services director at Knights, said: “Moving to EQ is a significant development for our team in Bristol. This new location makes us more accessible, bringing our people closer to clients in the heart of the city.” Paul Richardson, investment manager at CEG, said: “We set out to raise the bar – in terms of sustainability, technology, design and occupant wellbeing. We have achieved that, not only unveiling Bristol’s first operational net-zero commercial office building but also using 10% of the space to deliver high-quality amenities from the 50-seater auditorium, fitness studio, hospitality lounge, terrace and event space to the ground floor café. It is this approach to wellness and balance for those working here that continues to appeal to such a high calibre of occupiers.” Ian Wills, director at JLL and one of the agents for EQ, said: “The quality of the finishes and the level of amenity space has set a new benchmark in the growing Bristol market, and this is demonstrated by the headline rents that have been achieved with the prelet tenants. The building is very flexible, enabling multi-let occupancy, and has attracted a diverse range of occupiers from tech, financial and professional services.” CEG has one of the largest office development pipelines in Bristol, offering some 400,000 sq ft in its local portfolio at the Quorum, the Crescent, 1000 Aztec West and EQ. The £17m redevelopment of 1000 Aztec West completed last year, along with the redevelopment of the Crescent and refurbishment of the Quorum. More lettings and comparables in Bristol >> Images © CEG