Savills : Deal paves the way for Bristol’s tallest residential tower

Craig O'Brien, head of planning in Bristol, secured approval on the scheme for developer, Linkcity. He comments: 'After a complex planning process, we were delighted to have secured permission for this scheme. Not only will it bring a considerable number of new homes into the city centre, but it will create the tallest building in Bristol, with the exception of St Mary Redcliffe's church spire. Situated between the retail centre of Cabot Circus and the more recent Finzels Reach mixed-use development, it will bring new life to a part of the city that has been out of use for years.

'The 26-storey tower and a 10-storey block will book-end the main building, which fronts onto the park. Inspired by the old castle wall which once stood on the site, the development will transform Bristol's skyline, while providing a desirable place to live for many.'

Savills capital markets team, collaborated with Bristol's development team to act for M&G Real Estate on the forward funding of the development. M&G will own and manage 300 of the homes under a private rent scheme managed by its UK residential property fund. 75 affordable homes will be owned and overseen by Yarlington Housing Group.

Jonathan Lambert, a director in Bristol's development team, said: 'The delivery of this development will be another example of the diversification of the housing market in the city centre. It continues the momentum of development activity along the Floating Harbour and demonstrates how increased density can be achieved in urban location.

Nicolas Guerin, Managing Director at Linkcity, said: 'Reaching financial close on this fantastic city centre project is a great achievement for Linkcity, paving the way for the regeneration of a brownfield site into high-quality new homes for Bristol.'

Alex Greaves, Head of Residential Investment at M&G Real Estate, concludes:'This deal offers a strong opportunity to take advantage of a constricted supply pipeline and the considerable demand for high-quality rental accommodation in the city.'