Paymentsense's deal to take around 55,000 square feet at Commercial Estates Group's EQ Building in Bristol has won a CoStar 2023 Impact Award, with judges impressed at how it became the benchmark for new rents in the South West office market.
The financial technology firm agreed to lease 54,767 square feet at 111 Victoria Street in April 2022, paying around £42.50 per square feet for the Grade A property, the first in the area to commit to delivering net-zero carbon in operation.
It took the fifth and sixth floors of the office, which is located in Bristol's popular Eastern Fringe. It has become a hotspot for city centre office deals in recent years due to its enterprise zone status and excellent transport links.
Last April's deal represented a milestone for the rapidly expanding firm as it opened its first regional office. It already occupies two floors at the Brunel Building in Paddington, London, meaning its hubs are neatly linked by Isambard Kingdom Brunel's Great Western Railway.
About the project: EQ is a 200,000-square-foot office development six minutes' walk from Bristol Temple Meads station and scheduled for completion in the first quarter of 2023. When construction began at the end of 2020 it was the largest speculative office development in the south of England.
The building has close to 20,000 square feet of amenity, including a ground floor cafe, roof terrace and a dedicated fitness studio. It also has an auditorium which will be used to host events.
As part of its strong environmental credentials, the property has a rainwater collection system which links to its toilet flushing. Developers say this means the building could save 2,000 litres of water per person each year.
What the judges said: Peter Musgrove, head of office director at Lambert Smith Hampton, said the deal helped to "show off the best that Bristol has to offer" and how attractive the city has become for tenants.
"The impact of Paymentsense expanding into Bristol and taking space in one of the most innovatively designed buildings not only shows Bristol can attract high class companies, but that buildings which highlight and put design and ESG at its forefront can attract the best occupiers," he added.
They made it happen: Ian Wills, office agency and tenant representation director and Steve Lane, head of office agency at Cushman & Wakefield.
