BNF Capital moves into Bristol after acquiring landmark office

Finance, Property & Construction

By Nicky Godding

16 February 2024

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BNF Capital, working with Morgan Capital, have agreed the purchase of Programme, Bristol from Resolution for £36.5 million.

Programme is a 174,387 sq ft landmark office building, arranged over basement, ground and eight upper floors. The property has undergone comprehensive refurbishment to high specification and provides café facilities, educational space, a cycle hub, highly specified showers, changing facilities and a drying room.

It is located in the heart of the city centre, close to the historic old city and nearby local amenities including Castle Park, The Floating Harbour, St Nicholas Market, Broadmead, The Galleries and Cabot Circus.

The scheme has attracted occupiers in the technology, life science and education sectors including Immersive Labs, Cegedim, NMI, Xmos, Sweco, Open Bionics, Buckley Gray Yeoman and Spaces.

Colin Opp of BNF said: “We’re delighted to have completed the purchase of Programme from Resolution, which marks our first acquisition in Bristol. Bristol is an incredible city and BNF couldn’t be more thrilled to be a part of its story.”

Ken Edwards of Morgan Capital added: “This is an important purchase as it shows our continued commitment to buildings with excellent fundamentals, in core locations, that can deliver long term value. We look forward to continuing the transition of Programme into one of Bristol’s finest and most sustainable office buildings.”

Andrew Phillips, Director in UK Investments at Savills Bristol, said: “The comprehensive refurbishment of Programme has resonated with occupiers due to its location and access to amenities whilst offering a unique working environment with the added features of a building with scale. We expect the building to continue to capture the strong occupier market in the coming years under new ownership and as surrounding development projects are brought forward.”

Savills acted on behalf of Resolution. Mackenzie Real Estate acted on behalf of BNF and Morgan Capital.

By Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.