Skanska buys site for Bristol office development from TCN

Swedish construction giant Skanska has acquired a 3,000 m2 site in Bristol for its next office-led development in the English city.

Temple Gate was acquired from property management firm TCN for an undisclosed fee. It follows the sale of another office development at 66 Queen Square to Aviva Investors Property Trust in June for £32.7 mln (€46 mln).

Andreas Lindelof, managing director of development for Skanska UK, said: ‘This is an exciting location for an office development in the heart of the enterprise zone and at the gate way to Bristol. Like all of Skanska’s office projects, the Temple Gate development will have market leading, sustainable credentials which translate into great office environments for tenants.’

TCN has extensively redeveloped the area next to Temple Meads station, spanning a total of 11,300 m2, since acquiring it in 2009, establishing Temple Studios and Bristol & Exeter House as creative and digital campuses.

CEO Richard Pearce said: ‘The area is now recognised as a dynamic location and we are delighted that Skanska will bring their development skills to complete the final phase.’