The redevelopment of a 2.5 acre site in the heart of Bristol has reached a key milestone after main contractor Winvic Construction Ltd celebrated topping out at the mixed-used Redcliff Quarter scheme.
Grainger plc, the UK’s largest listed residential landlord, announced in 2022 that it had exchanged conditional contracts to forward fund and acquire the build-to-rent (BtR) element of the second phase of Redcliff Quarter in Bristol, which comprises 374 BtR homes, as well as 94 affordable homes and six commercial units. The BtR element will be known as Glass House.
Developer Madison Cairn – working in partnership with ICG Real Estate – secured planning permission for 468 new build to rent homes in 2021, along with an adjacent PBSA development of 367 rooms.
The site has a much longer history, though. It had been vacant for more than 20 years when, in 2017, planning permission was granted to regenerate the site. However, after completing the first phase of the scheme – 118 new homes at the north of the site – the development stalled, leaving the rest of the scheme undeveloped. Madison Cairn took over as developer, successfully unlocking the scheme.
In addition to the 374 BtR homes and 94 affordable homes, Redcliff Quarter includes a total of c.5,900 sq. ft of internal residents’ amenity space; c.21,200 sq. ft of external amenity space; c.8,500 sq. ft of commercial space; and 31 car parking spaces.
The site is a short, nine-minute walk from Bristol Temple Meads Station, which sits at the heart of Europe’s largest regeneration, Temple Quarter.
In line with Grainger’s cluster strategy, Redcliff Quarter builds on Grainger’s existing Bristol portfolio, which includes Hawkins & George, comprising 194 build-to-rent homes, and Millwrights Place which will comprise 231 build-to-rent homes.
Helen Gordon, Chief Executive Officer of Grainger, said:
“We are very pleased to acquire our third build-to-rent scheme in Bristol which will further strengthen our city cluster, bringing our total investment in the city to nearly 900 homes when complete and driving operational efficiencies, whilst also enabling us to deliver 94 new affordable homes via Grainger Trust, our in-house affordable housing arm.”
Mark Jones, Winvic’s Managing Director for Multi-room, said:
“Acknowledging this notable project milestone is a tremendous achievement for all stakeholders involved. The topping out of this complex development in the heart of Bristol is a testament to the team’s perseverance and determination throughout a challenging winter. I wish to extend my gratitude to our dedicated team along with the consultants and supply chain for their tireless efforts thus far. With enthusiasm, we are poised for the year ahead, guiding us towards the final stages of completion in 2025.”
Jai Patel, Managing Director of ICG Real Estate, said:
“ICG is proud to have been involved with the Redcliff regeneration since 2015, most recently securing this planning consent for 468 residential units in partnership with Madison Cairn, and working with Bristol City Council. We are pleased to have played a role in providing much needed housing for the local community.”
Aneil Handa, Managing Director of Madison Cairn, said:
“There is a serious under-supply of homes in Bristol. By working in partnership with ICG Real Estate and Grainger we secured planning permission for a revised Redcliff Quarter scheme that saw a substantial increase in the number of homes delivered on the site, compared with the previous consent. Importantly, the new scheme now has 94 affordable homes, which will make a real contribution to helping address Bristol’s housing need. It is great to see such progress on the construction and look forward to seeing the building getting closer to completion in 2025.”
Share
Repost
LinkedIn
Email
