Grainger plc announced in 2022 that it had exchanged conditional contracts to forward fund and acquire the build-to-rent (BtR) element of the second phase of Redcliff Quarter in Bristol. Known as Glasshouse Square, the development comprises 374 build-to-rent homes, as well as 94 affordable homes and four commercial units. Upon practical completion, Grainger will own and operate the scheme, delivering much needed new homes in the centre of Bristol.
Developer Madison Cairn – working in partnership with global alternative asset manager ICG Real Estate – secured planning permission for 468 new build to rent homes in 2021, along with an adjacent PBSA development of 367 rooms.
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The site has a much longer history, though. It had been vacant for more than 20 years when, in 2017, planning permission was granted to regenerate the site. However, after completing the first phase of the scheme - 118 new homes at the north of the site - the development stalled, leaving the rest of the scheme undeveloped. Madison Cairn took over as developer, successfully unlocking the scheme.
In addition to the 374 BtR homes and 94 affordable homes, Glasshouse Square includes a total of c.5,900 sq. ft of internal residents’ amenity space; c.21,200 sq. ft of external amenity space and c.8,500 sq. ft of commercial space.
The site is a short, nine-minute walk from Bristol Temple Meads Station, which sits at the heart of Europe's largest regeneration, Temple Quarter.
Glasshouse Square builds on Grainger's existing Bristol portfolio, which includes Hawkins & George, comprising 194 build-to-rent homes, and Millwrights Place which provides 231 build-to-rent homes.
Mark Jones, Winvic's Managing Director for Multi-room, said: "Acknowledging this notable project milestone is a tremendous achievement for all stakeholders involved. The topping out of this complex development in the heart of Bristol is a testament to the team's perseverance and determination throughout a challenging winter. I wish to extend my gratitude to our dedicated team along with the consultants and supply chain for their tireless efforts thus far. With enthusiasm, we are poised for the year ahead, guiding us towards the final stages of completion in 2025."
