Breaking Property News 09/09/24
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Cathedral View 2 building at The Forum is let to Fasthosts Internet Ltd by Bruton Knowles
The rental of office space totalling 19,000 sq ft at a pivotal Gloucester development – at the centre of a recognised world-leading cyber hub – the entire Cathedral View 2 building at The Forum has been let to an internet service provider, owned by German parent company, Ionos SE. The deal which is set to have significant impact in Gloucester has been over 12 months in the making and was led by Dorian Wragg, Head of Commercial Property and Partner at Bruton Knowles, property and marketing agents for The Forum, developed and owned by client Reef Group with support from Gloucester City Council.
The Forum offers 97,707 sq ft office space to rent in the city centre across two main buildings and there will also be a hotel, apartments, car park, two acres of landscaped public realm, gym, retail and restaurants and a creative hub as well as significant investment in the surrounding public transport hubs. The development holds BREEAM certification, with passive design principles intended to maximise and retain solar gain and renewable electricity supply throughout, for best practice carbon management.
Dorian Wragg said: “An office move, on this scale, is rare these days but also marks a move back to a more balanced workplace, a hybrid model in an area that defines mixed use at its best. Good design is not enough – new workplaces and living spaces must have energy, be vibrant and relevant. We saw that demand for the best quality, best located, most environmentally sustainable buildings exceeding supply in 2023 and that will continue throughout 2024 alongside Return-to-Work mandates.
“This is another huge step forward in promoting the city and the region as an emerging digital and cyber security centre in the UK. Fasthosts will move over 250 employees to this one location, from existing sites in Gloucester. This in turn brings interest, additional investment, visitors, tourists, and residential buyers to invigorate the city centre.”
Total annual revenue within the UK cyber security has reached £10.5 billion, supporting some 58,005 employees, and rising. In 2022, Gloucestershire was chosen by the Department for International Trade to be highlighted as a world-leading cyber cluster through the High Potential Opportunities (HPO) programme and is already home to GCHQ and the National Cyber Security Centre (NCSC).
Simon Yeoman is CEO at Fasthosts Internet Ltd: “Bruton Knowles was instrumental in securing a prime office space for us at The Forum. Their strong local connections and expertise ensured a smooth transaction, allowing us to concentrate on our business and customers. The Forum offers a sustainably constructed, modern, well-equipped workspace that will give our team a productive and collaborative environment, with great amenities and impressive views.”
James Bailey, Managing Partner at Bruton Knowles, said: “Our Commercial Property team, headed up by Dorian, is absolutely embedded into the property market in Gloucester and the Southwest. The team has the history and the connections to identify a deal of this magnitude and convert it for clients and occupiers. We are committed to promoting the benefits of the city and the region.”
Bruton Knowles LLP is an independently owned national chartered surveyor firm with fourteen offices. It provides a comprehensive range of property services to owners, occupiers, investors, lenders, and developers via a multi-disciplinary team, highly knowledgeable in sale and purchase, valuation, leasing, and strategy, alongside specialist National Teams for Utilities and Infrastructure, Valuations and Commercial Property.
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
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