BentallGreenOak (BGO) and UK mixed use investor, Mission Street, have acquired 1 Temple Way in Bristol for a 135,000 ft2 wet lab, dry lab, and office space project.
1 Temple Way is an iconic building originally built in 1974 for the Bristol United Press and was highly innovative for its time. It is located in the heart of Bristol’s emerging Tech and Science district, near Bristol University’s new Enterprise Campus and is in close proximity to Temple Meads station.
BGO and Mission Street struck a JV in January 2021 to acquire UK R&D locations, having acquired assets in Oxford and Cambridge. The total portfolio now includes four projects which will total 500,000 ft2 once completed, with a significant pipeline of future projects.
Artem Korolev, founder and CEO of Mission Street, said: ‘We have been monitoring the Bristol market for the last two years and have had extensive engagement with the key stakeholders in the emerging R&D ecosystem.'
Toby Phelps, managing partner at BGO, said his firm was excited to add a fourth project to its Life Science portfolio. 'There continues to be a severe shortage of supply of high-quality, purpose-built space for the growing Life Science, Deep Tech, and R&D sectors,' he said.
