Real estate developer Downing completes first acquisition in Bristol

Published by

Peter Davison

Nelson Street car park

Real estate developer and manager Downing has successfully completed its first acquisition in Bristol, with the purchase of NCP’s Nelson Street Car Park, as part of a long-term strategic acquisition.

Situated in the heart of Bristol, Nelson Street Car Park is located on an island bound by Fairfax Street, The Pithay and All Saints Street.

It is near St Nicholas Market, Castle Park, Queen Square, Cabot Circus, Finzels Reach and Bristol Temple Meads.

Bristol Zoo's old car park at Clifton sold for housing

Downing operates sites that span the length of the country, including London, Manchester, Edinburgh, Glasgow, Newcastle and Liverpool, with this being the first time Downing has added Bristol to its portfolio.

The purchased site covers a total of approximately 0.64 acres, with 295 car parking spaces arranged over ten split levels at ground floor level fronting Nelson and Fairfax Street. In addition, there are eight self-contained retail units.

Being the fifth largest conurbation in the UK, Downing said it sees Bristol as a key investment opportunity to add to its substantial investment portfolio, with a dominant economy in the South West and a leading big six office market.

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Paul Houghton, director at Downing said: “The site on Nelson Street is a strategic acquisition for Downing to further expand its portfolio in the South West.

“Bristol is a city that boasts impressive retention rates, great green space and a thriving economy. We see it as a key growth area for Downing, as we look to build on our impressive investment portfolio.”

Peter Davison

Peter Davison is deputy editor of The Business Magazine. He has spent his life in journalism – doing work experience in newsrooms in and around Bristol while still at school, and landing his first job on a local newspaper aged 19. By 28 he was the youngest newspaper editor in the country. An early advocate of online news, he spent the first years of the 2000s telling his bosses that the internet posed both the biggest opportunity and greatest threat to the newspaper industry and the art of journalism. He was right on both counts. Since 2006 he has enjoyed a career as a freelance journalist. He lives in rural Wiltshire with one wife, two children, and three cats.