Bath & North East Somerset Council have been informed that BMT, the Bath-based defence company, have decided to withdraw as an anchor tenant for the Bath Quays South office building for ‘business’ reasons.
It’s believed that a reduction in the overall development size has contributed to the decision, which meant BMT would be unable to house their Bath-based team in one building without outgrowing the space in a short amount of time.
The Bath Quays South scheme is in three parts – the grade A office accommodation, creative flexible workspace in the Newark Works building, and residential apartments.
Given the acute need for business space in the city, by 2018, Bath Quays South remains a great opportunity to make available 45,000 sq ft of Grade A office.
As well as strong demand from businesses in Bath which are growing rapidly and part of the city’s digital and creative boom, there is interest from outside the city too.
Discussions with agents and local businesses about their ongoing growth requirements are extremely positive.
Alongside the new office building, the refurbished Newark Works building will offer new flexible business spaces focussed on the creative sector.
Regeneration specialists TCN are encouraged by the interest in the Newark Works building and remain committed to the overall Bath Quays South scheme.
Matt Cross, Chief Executive of Invest in Bristol and Bath, explained: “We know that local, national and international investors who would like to locate in the West of England region are positive about bringing their businesses to Bath.
“The prospect of quality office buildings will be extremely attractive and we are already managing enquiries for this opportunity.”
