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Mon January 18 2021

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Cubex sticks with Willmott Dixon for Bristol PRS scheme

11 Jan Willmott Dixon Construction has been appointed main contractor for a housing development in Bristol’s Finzels Reach.

Millwrights Place and Coopers Court at Finzels Reach
Millwrights Place and Coopers Court at Finzels Reach

This is the fourth time that Willmott Dixon has been chosen by Bristol-based Cubex to deliver a major construction scheme in the city.

The new housing development comprises two bocks. Millwrights Place will provide 231 private rental apartments in a 14-storey building. Next to it will be Coopers Court, a 10-storey building with 66 apartments – 18 shared ownership and 48 affordable – through a deal with Yarlington Housing Association.

Enabling works are due to start this month with main contract works starting in the middle of February, ready for opening in the summer of 2023.

Listed landlord Grainger has agreed to forward fund the scheme for £63.1m, with Cubex Land as development manager, backed by Fiera Real Estate.

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Cubex purchased the site in 2016 on behalf of Fiera Real Estate.

Willmott Dixon is already midway through building a £33m seven-storey office block, the Halo, at Finzels Reach for Cubex. It completed the 95,000 sq ft Aurora office block in 2018 and the 194-apartment Hawkins & George build-to-rent scheme  for Grainger and Cubex in 2019.

Steven Wright, director of Fiera Real Estate, said: "The sale [to Grainger] represents the completion of the second phase of Finzels Reach where Cubex and Fiera Real Estate have developed (or realised) over £400m worth of assets. This has converted a derelict under-utilised part of central Bristol into a thriving hub delivering a vibrant 24/7 community in over 400,000 sq ft of commercial space (including two BREEAM Outstanding offices buildings), 400+ apartments and a new hotel. We look forward to securing similar new opportunities on behalf of the Fiera Real Estate Opportunity Fund V, which is active and currently investing."

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