A landmark £74 million financing deal has been secured to transform one of Bristol's most recognisable historic buildings into a cutting-edge sustainable development on the city's vibrant Harbourside.
Historic Site Set for Major Revitalisation
The Grade-II listed Canons Wharf estate, which includes the former regional headquarters of Lloyds Banking Group, will undergo a comprehensive redevelopment following significant investment from Puma Property Finance. This represents Puma's largest loan to date and marks their first transaction within the Bristol property market.
Ambitious Development Plans
The ambitious Canons Wharf scheme will deliver substantial commercial and leisure space across this prominent waterfront location. The development will feature 165,000 square feet of premium office accommodation spread across two buildings, all benefiting from spectacular views across Bristol's historic harbour.
Complementing the workspace will be 18,000 square feet dedicated to food and beverage establishments, strategically positioned to overlook the popular Amphitheatre – a key public events space that hosts activities throughout the year.
Sustainability at the Core
The redevelopment has been designed with environmental excellence as a fundamental principle. Developers have committed to achieving the highest sustainability certifications, targeting BREEAM Excellent, EPC A, WiredScore Platinum, and SmartScore Gold standards.
The entire building will operate on 100% electric power supplied by green energy sources. Innovative environmental features will include water-source heat pumps utilising harbour water, extensive rooftop solar panel installations, new tree planting initiatives, and comprehensive green landscaping throughout the site.
Premium Amenities and Facilities
Beyond the commercial spaces, the transformed Canons Wharf will offer an impressive array of amenities designed to create a vibrant community hub. These will include a fully-equipped gym, sauna facilities, a dedicated auditorium, an elegant rooftop pavilion, and multiple gardens and terraces providing outdoor spaces for relaxation and social interaction.
Development Timeline and Leadership
Construction work on this significant project is scheduled to commence during the summer months, with practical completion anticipated by late 2027. The development is being delivered through a joint venture between Mactaggart Family & Partners and Kinrise, with Colliers Debt Advisory providing specialist support for the financing arrangement.
Industry Perspectives
William Laxton, Chief Executive of Mactaggart Family & Partners, expressed considerable enthusiasm about the project's potential. "Canons Wharf will be a market defining scheme that rewards us for our conviction during a challenging time for the UK office sector," he stated. "We are grateful for the trust the Puma team have placed in our joint venture with Kinrise and really proud to be delivering this project into one of the most exciting occupier markets in the country."
George Aberdeen, Managing Partner of Kinrise, highlighted the building's architectural significance. "Canons Wharf has the scale and architectural prominence to be Bristol's leading office building," he commented. "We look forward to it being full of thriving people, growing companies, life and soul. It has also been a long-standing ambition for Kinrise and MF&P to work together and this is the perfect project to bring out the best of our complementary skills."
Rahul Malde, Director of Puma Property Finance, emphasised the scheme's landmark status. "We are proud to support MF&P and Kinrise on the redevelopment of Canons Wharf, a landmark project that will set new standards for sustainable office development in Bristol," he said. "This iconic scheme overlooking the Bristol Harbourside and Amphitheatre exemplifies our commitment to working with experienced sponsors and delivering best-in-class product in underserved markets. We look forward to seeing the transformation of this vacant estate into a vibrant mixed-use campus, creating spaces to work, taste and gather."
This substantial investment represents a significant vote of confidence in Bristol's commercial property market and demonstrates how historic buildings can be thoughtfully reimagined for contemporary sustainable use while preserving their architectural heritage and enhancing their contribution to the city's economic and social landscape.
