Author: Phil Morton

Morton Property Consultants is proud to announce that it has been formally retained by Wittenstein High Integrity Systems (WHIS) to advise and act on the acquisition of a new office in the heart of Bristol city centre. This appointment marks an exciting new chapter for WHIS as it looks to expand and enhance its UK footprint with a modern, high-quality workspace aligned with its global reputation for engineering excellence.

Part of the globally recognised WITTENSTEIN group, WHIS was established in 1949 and today operates across 40 countries, employing more than 2,800 people worldwide. Renowned for its innovation in safety-critical real-time operating systems, WHIS provides cutting-edge solutions to clients across the aerospace, automotive, industrial automation, and medical technology sectors.

MPC’s appointment underscores WHIS’s commitment to securing a workplace environment that reflects its values of precision, innovation, and well-being. The search will focus on securing high-quality, open-plan office accommodation that promotes collaboration and flexibility, while also offering best-in-class end-of-journey facilities—including secure cycle storage, showers, and changing areas—along with exceptional social and well-being amenities to support a thriving and dynamic workplace culture.

“Wittenstein High Integrity Systems is a global leader in its field, and this strategic move into central Bristol demonstrates a clear ambition to invest in a future-focused workspace for its talented team,” said [Spokesperson Name], Director at Morton Property Consultants. “We are excited to be working with WHIS to identify an office that not only meets its operational needs but enhances the working environment for its people.”

WHIS’s planned expansion within the UK aligns with Bristol’s continued growth as a technology and engineering hub, offering access to a highly skilled talent pool and a vibrant business ecosystem. The new office will further support WHIS’s ambitions for innovation and collaboration while cementing its long-term presence in the region.

Morton Property Consultants brings deep expertise in advising fast-growing, future-focused organisations on commercial property strategy. With a strong track record across Bristol, the South West and South Wales, Morton Property Consultants is ideally positioned to lead this search on WHIS’s behalf.

PRESS RELEASE

Bristol, 2 June 2025 — Property consultancy firm Morton Property Consultants has successfully supported leading commercial property management company Workman LLP in securing a new office at Temple Point, a prominent business destination located near Temple Meads Railway Station in Bristol.

The move represents a significant milestone for Workman, aligning with its strategic priorities around employee well-being, accessibility, and future-focused workplace design. Morton Property Consultants played a key advisory role in the acquisition process, guiding Workman through every stage — from initial property identification and evaluation, to lease negotiation and final handover.

Workman’s relocation to Temple Point was driven by the building’s exceptional “end of journey” facilities and impressive social well-being credentials. Temple Point offers secure cycle storage, showers, changing rooms, and breakout spaces designed to promote a healthy work-life balance, encouraging active commuting and employee interaction. With sustainability and well-being at the heart of Workman’s culture, Temple Point proved an ideal fit.

Phil Morton, Director at Morton Property Consultants, commented:
“We are delighted to have assisted Workman in finding a workplace that reflects both their values and ambition. Temple Point not only offers excellent connectivity via Temple Meads, but also provides modern amenities and a collaborative environment that supports their people-first approach.”

The new office places Workman in the heart of Bristol’s thriving Temple Quarter, giving them proximity to clients, amenities, and major transport links. The move underscores the company’s long-term commitment to the city and its evolution as a regional hub for professional services.

A spokesperson for Workman said:
“The support we received from Morton Property Consultants throughout the relocation process was outstanding. Temple Point ticked all the right boxes for us — not just in terms of location and specification, but also in supporting our vision for a workplace that champions employee well-being. We’re thrilled with the outcome.”

Morton Property Consultants continues to support occupiers and landlords across Bristol, the South West and South Wales with expert advice on office acquisitions, lease consultancy, and workplace strategy. The successful relocation of Workman to Temple Point highlights Morton Property Consultant’s continued role in shaping the future of dynamic, people-centric workspaces in Bristol and beyond.

ENDS

Rents rise against a slight tightening of supply…but options remain

Rents on the move again, with improving take up…MORTONS MARKET MONITOR – H1 2024

[Bristol, Qu1 24]: Morton Property Consultants, acting on behalf of Veale Wasbrough Vizards, is pleased to announce the successful letting of prime office space to a major Bristol occupier. The deal not only underscores Frazer Nash’s commitment to, Bristol and excellence in the workspace but also highlights Veale Wasbrough Vizards’s exceptional expertise in facilitating the transaction.
The recently secured office space, of 13,831 sq ft stands as a testament to Morton Property Consultant’s unwavering dedication, and persistence to meeting their clients requirements in the letting of the accommodation. With meticulous attention to detail and a client-centric approach, Morton Property Consultants and Veale Wasborogh Vizards have seamlessly facilitated the leasing process, ensuring a smooth and mutually beneficial agreement for all parties involved.
“We are overjoyed to have played a pivotal role in this significant letting,” remarked Phil Morton, Director at Morton Property Consultants. “This successful letting not only demonstrates our expertise but also reflects the trust our clients place in us to deliver exceptional results.”

CoStar Awards Quarterly Deals Winner Qu3 2023

We were delighted to be recognised by @CoStarGroupUK as a Q3 2023 #CoStarAwards winner for Evelyn’s lease at EQ, Bristol.

Evelyn Partners is the latest professional services firm to relocate Bristol office to showpiece development. Morton Property Consultants acted on behalf of Evelyn.

National wealth management and professional services group Evelyn Partners is to move its Bristol office to a new, highly sustainable flagship development just a stone’s throw away.

The firm will transfer its 250-strong Bristol team from Portwall Place, where it has been based for the past 15 years, to the nearby EQ building on Victoria Street.

The shortly-to-open 200,000 sq ft development is Bristol’s first new office scheme to target operating with net zero carbon in accordance with the UKGBC framework.

It will be all electric, with solar panels while rainwater will be collected and reused, and a target of zero waste being sent to landfill.

Evelyn Partners will join global banking giant HSBC, fast-growing fintech firm Paymentsense and global engineering and consultancy group Arup in the building, which has been developed by London-based property investment group CEG and will feature a rooftop bar, restaurant and business lounge with communal terrace and 50-seat auditorium, as well as a fitness suite.

Paymentsense has signed up to take 54,767 sq ft at EQ, while HSBC is to occupy 11,000 sq ft. Evelyn Partners is to move into 27,382 sq ft, taking up the building’s entire fourth floor while global engineering and consultancy group Arup has confirmed it will take all of the 27,377 sq ft second floor.

The building, which was the largest speculative scheme in the South of England when work started on it in 2020, is now around 65% pre-let.

EQ is one of a number of major office schemes around the city centre to benefit from a post-pandemic ‘flight to quality’ as firms look for modern, flexible space to tempt employees into the office while also boosting their own ESG (environmental, social and governance) credentials.

Evelyn Partners joins a number of professional services firms to relocate their Bristol bases to these new offices, including international law firm Osborne Clarke (MPC acted) and Big Four accountants Deloitte – which have both moved to Halo – and law firm Clarke Willmott (MPC acted), which is heading to Assembly.

Evelyn Partners said its new office would provide modern working accommodation while also giving it space to continue its ambitious regional growth strategy.

The office will provide flexibility for staff to work at desks and in collaborative areas. Clients will benefit from the suite of meeting rooms as well as the building’s amenity spaces, which include an auditorium and terrace.

Evelyn Partners’ Bristol team provides a range of services to support clients in personal financial affairs and business interests, including tax advice, assurance and accounting, financial planning and investment management.

Evelyn Partners Bristol office managing partner Nigel Hardy said: “Our teams in Bristol have watched the EQ building being constructed close to our current offices over the past couple of years and it’s exciting to now have agreed terms at this phenomenal development”.

“As with our current Bristol office nearby, EQ is well located and will provide a fantastic working environment for our staff. We also know our clients will enjoy meeting their advisers in our new meeting rooms and attending events at the building.”

He said the new office would allow the firm to continue its rapid expansion in the region under the local management team, and so provide services to more clients.

“Taking space at this building also supports our commitment as a firm to environmental sustainability and achieving net zero greenhouse gas emissions in our corporate operational footprint,” he added.

CEG investment manager Paul Richardson said as well as its outstanding sustainability and hi-tech specifications, EQ was also raising the bar in terms of occupant wellbeing.

This included providing around 20,000 sq ft of amenities such as its rooftop hospitality space and business lounge with communal terrace, a ground-floor café kitchen and its auditorium, as well as a fitness suite and break-out space “making it incredibly appealing to businesses wanting to attract and retain the best talent”, he added.

Evelyn Partners was formed a year ago following the merger of Smith & Williamson with Tilney.

The firm has £53bn of assets under management, making it the UK’s fifth largest professional services business by fee income.

Bristol is one of 28 towns and cities across the UK where it has a presence.

Evelyn Partners latest professional services firm to relocate Bristol office to showpiece development. Morton Property Consultants acted on behalf of Evelyn.

National wealth management and professional services group Evelyn Partners is to move its Bristol office to a new, highly sustainable flagship development just a stone’s throw away.

The firm will transfer its 250-strong Bristol team from Portwall Place, where it has been based for the past 15 years, to the nearby EQ building on Victoria Street.

The shortly-to-open 200,000 sq ft development is Bristol’s first new office scheme to target operating with net zero carbon in accordance with the UKGBC framework.

It will be all electric, with solar panels while rainwater will be collected and reused, and a target of zero waste being sent to landfill.

Evelyn Partners will join global banking giant HSBC, fast-growing fintech firm Paymentsense and global engineering and consultancy group Arup in the building, which has been developed by London-based property investment group CEG and will feature a rooftop bar, restaurant and business lounge with communal terrace and 50-seat auditorium, as well as a fitness suite.

Paymentsense has signed up to take 54,767 sq ft at EQ, while HSBC is to occupy 11,000 sq ft. Evelyn Partners is to move into 27,382 sq ft, taking up the building’s entire fourth floor while global engineering and consultancy group Arup has confirmed it will take all of the 27,377 sq ft second floor.

The building, which was the largest speculative scheme in the South of England when work started on it in 2020, is now around 65% pre-let.

EQ is one of a number of major office schemes around the city centre to benefit from a post-pandemic ‘flight to quality’ as firms look for modern, flexible space to tempt employees into the office while also boosting their own ESG (environmental, social and governance) credentials.

Evelyn Partners joins a number of professional services firms to relocate their Bristol bases to these new offices, including international law firm Osborne Clarke (MPC acted) and Big Four accountants Deloitte – which have both moved to Halo – and law firm Clarke Willmott (MPC acted), which is heading to Assembly.

Evelyn Partners said its new office would provide modern working accommodation while also giving it space to continue its ambitious regional growth strategy.

The office will provide flexibility for staff to work at desks and in collaborative areas. Clients will benefit from the suite of meeting rooms as well as the building’s amenity spaces, which include an auditorium and terrace.

Evelyn Partners’ Bristol team provides a range of services to support clients in personal financial affairs and business interests, including tax advice, assurance and accounting, financial planning and investment management.

Evelyn Partners Bristol office managing partner Nigel Hardy said: “Our teams in Bristol have watched the EQ building being constructed close to our current offices over the past couple of years and it’s exciting to now have agreed terms at this phenomenal development”.

“As with our current Bristol office nearby, EQ is well located and will provide a fantastic working environment for our staff. We also know our clients will enjoy meeting their advisers in our new meeting rooms and attending events at the building.”

He said the new office would allow the firm to continue its rapid expansion in the region under the local management team, and so provide services to more clients.

“Taking space at this building also supports our commitment as a firm to environmental sustainability and achieving net zero greenhouse gas emissions in our corporate operational footprint,” he added.

CEG investment manager Paul Richardson said as well as its outstanding sustainability and hi-tech specifications, EQ was also raising the bar in terms of occupant wellbeing.

This included providing around 20,000 sq ft of amenities such as its rooftop hospitality space and business lounge with communal terrace, a ground-floor café kitchen and its auditorium, as well as a fitness suite and break-out space “making it incredibly appealing to businesses wanting to attract and retain the best talent”, he added.

Evelyn Partners was formed a year ago following the merger of Smith & Williamson with Tilney.

The firm has £53bn of assets under management, making it the UK’s fifth largest professional services business by fee income.

Bristol is one of 28 towns and cities across the UK where it has a presence.

US-based Unicorn company Pax8, which has in just a few years created a marketplace for IT professionals to buy cloud-based technology products, initially set up their European HQ in Bristol (Sept 2020), with a soft-landing mid pandemic in a small suite in serviced offices at Runway East through Morton Property Consultants (MPC). Subsequently MPC introduced them to Invest in Bristol and Bath (IBB) who then worked together with PAX8, providing both private and public support to secure their long term inward investment into the city.

Pax8’s growth from that point was so rapid, with projected further growth to over 150 – 220 heads in the next few years, that they required substantially larger accommodation.

Morton Property Consultants then co-ordinated and led the subsequent

property search, identifying No2 The Distillery as an ideal office in terms of size of space, (24,375 sq ft), quality of Grade A new accommodation, ESG credentials, flexibility both physically and contractually, within a high profile building in a prime location close to the mainline railway station at Temple Meads.
The deal kick started the occupation of 92,000 sq ft Distillery development which has revitalized the whole of Avon Street.

There are several significant ways in which this deal shows an innovative way forward for the Bristol property market, especially as the city continues to grow in importance – nationally and internationally – within the creative and tech sector, and attract new high growth inward investors as well as foster the future for indigenous businesses.

Firstly, securing the inward investment of Pax8 was achieved through a long period of close collaborative work (much of it during the Covid lockdown) between Morton Property Consultants (who received and acted upon the initial lead) and IBB, who went to extreme lengths to smooth the path of the company’s entry into the UK – including working closely with various Government departments to help Pax8 make important contacts and overcome bureaucratic barriers.

Secondly, this was one of the first times that a “Cat A+” deal of this size had been struck within the city (with the fit-out funded through additional rental terms rather than an upfront payment), and it is by far the highest profile one to date. This presents a template for many tenants on a sharp growth trajectory to occupy space in some of our newest buildings (which invariably require a fit-out prior to occupation), and for landlords to attract high growth tenants.

While the initial requirement was for 13,887 sq ft, based on a 10 year lease with tenant break clauses in year five and three, the rapid growth of the business during the legal process lead to an increased requirement of 24,375 sq ft based on a 10 year lease with a 5 year break on the brand-new building. The open market rent level was agreeable to Pax8, however the projected cost of the fit out would have meant significant upfront capital expenditure, while they preferred to use their capital reserves to recruit new personnel and grow the business.

To meet that requirement, a separate agreement was negotiated with Royal London Asset Management, through Morton Property Consultants, taking out one of the breaks at year three, and in return the landlord would complete the “Cat A+” fit out to the tenant’s design but at the landlord’s expense, with the cost to be repaid in the form of an additional “CAT B” rent to be paid over the first five years of the lease.

This allowed Pax8 to occupy a building they felt would enable them to recruit the large numbers of high calibre of staff they needed to rapidly reinforce their foothold in the European market, without calling upon their capital reserves.

The deal not only helped reinforce Pax8’s commitment to Bristol, but also showcased an innovative way forward for other fast-growing businesses in the city to expand their operations in a way that allows them to fund their business space through revenues, rather than through funding or borrowing… and encourage other landlords in the city to offer similarly attractive arrangements to the owners of No 2 The Distillery (RLAM).

The steep trajectory of the tech sector in Bristol has brought large numbers of well-paid jobs to the city, but the subsequent shortage of skilled staff can make recruitment problematic. Offering a quality workspace designed specifically to this sector’s requirements provides a major recruitment tool, as the work environment figures very highly in their staff’s priorities.

The importance of securing Pax8 as an occupier has huge ramifications for Bristol’s reputation as being “open for business” for the world’s big future employers.

In Pax8’s words, “As a business looking for a highly motivated, energetic workforce, Bristol was the obvious choice for Pax8. We were also looking for a city with a lot of ambitious, energetic talent, and the universities based in and around Bristol were a major draw.”

Having all of these attractions as a city means nothing if Bristol’s property sector cannot offer the kind of flexible and imaginative solutions that these companies need to meet the demands of their workforces and their boards. The deal struck in behalf of Pax8 demonstrates a way forward that will encourage enlightened landlords and developers to adapt to the new commercial imperatives driving our economy and offer similar terms.

PROPERTY DEAL OF THE YEAR:

US-based Unicorn company Pax8, which has in just a few years created a marketplace for IT professionals to buy cloud-based technology products, initially set up their European HQ in Bristol (Sept 2020), with a soft-landing mid pandemic in a small suite in serviced offices at Runway East through Morton Property Consultants (MPC). Subsequently MPC introduced them to Invest in Bristol and Bath (IBB) who then worked together with PAX8, providing both private and public support to secure their long term inward investment into the city.

Pax8’s growth from that point was so rapid, with projected further growth to over 150 – 220 heads in the next few years, that they required substantially larger accommodation.

Morton Property Consultants then co-ordinated and led the subsequent property search, identifying No2 The Distillery as an ideal office in terms of size of space, (24,375 sq ft), quality of Grade A new accommodation, ESG credentials, flexibility both physically and contractually, within a high profile building in a prime location close to the mainline railway station at Temple Meads.

The deal kick started the occupation of 92,000 sq ft Distillery development which has revitalized the whole of Avon Street.

There are several significant ways in which this deal shows an innovative way forward for the Bristol property market, especially as the city continues to grow in importance – nationally and internationally – within the creative and tech sector, and attract new high growth inward investors as well as foster the future for indigenous businesses.

Firstly, securing the inward investment of Pax8 was achieved through a long period of close collaborative work (much of it during the Covid lockdown) between Morton Property Consultants (who received and acted upon the initial lead) and IBB, who went to extreme lengths to smooth the path of the company’s entry into the UK – including working closely with various Government departments to help Pax8 make important contacts and overcome bureaucratic barriers.

Secondly, this was one of the first times that a “Cat A+” deal of this size had been struck within the city (with the fit-out funded through additional rental terms rather than an upfront payment), and it is by far the highest profile one to date. This presents a template for many tenants on a sharp growth trajectory to occupy space in some of our newest buildings (which invariably require a fit-out prior to occupation), and for landlords to attract high growth tenants.

While the initial requirement was for 13,887 sq ft, based on a 10 year lease with tenant break clauses in year five and three, the rapid growth of the business during the legal process lead to an increased requirement of 24,375 sq ft based on a 10 year lease with a 5 year break on the brand-new building. The open market rent level was agreeable to Pax8, however the projected cost of the fit out would have meant significant upfront capital expenditure, while they preferred to use their capital reserves to recruit new personnel and grow the business.

To meet that requirement, a separate agreement was negotiated with Royal London Asset Management, through Morton Property Consultants, taking out one of the breaks at year three, and in return the landlord would complete the “Cat A+” fit out to the tenant’s design but at the landlord’s expense, with the cost to be repaid in the form of an additional “CAT B” rent to be paid over the first five years of the lease.

This allowed Pax8 to occupy a building they felt would enable them to recruit the large numbers of high calibre of staff they needed to rapidly reinforce their foothold in the European market, without calling upon their capital reserves.

The deal not only helped reinforce Pax8’s commitment to Bristol, but also showcased an innovative way forward for other fast-growing businesses in the city to expand their operations in a way that allows them to fund their business space through revenues, rather than through funding or borrowing… and encourage other landlords in the city to offer similarly attractive arrangements to the owners of No 2 The Distillery (RLAM).

The steep trajectory of the tech sector in Bristol has brought large numbers of well-paid jobs to the city, but the subsequent shortage of skilled staff can make recruitment problematic. Offering a quality workspace designed specifically to this sector’s requirements provides a major recruitment tool, as the work environment figures very highly in their staff’s priorities.

The importance of securing Pax8 as an occupier has huge ramifications for Bristol’s reputation as being “open for business” for the world’s big future employers.

In Pax8’s words, “As a business looking for a highly motivated, energetic workforce, Bristol was the obvious choice for Pax8. We were also looking for a city with a lot of ambitious, energetic talent, and the universities based in and around Bristol were a major draw.”

Having all of these attractions as a city means nothing if Bristol’s property sector cannot offer the kind of flexible and imaginative solutions that these companies need to meet the demands of their workforces and their boards. The deal struck in behalf of Pax8 demonstrates a way forward that will encourage enlightened landlords and developers to adapt to the new commercial imperatives driving our economy and offer similar terms.

The latest overview of the Bristol office market. 

Morton Property Consultants are delighted to announce their 5th year anniversary, and thank all their clients and network of contacts for their support over the years and look forward to the next 5!

CoStar Group, Inc., the leading provider of commercial real estate information, analytics and online marketplaces, today announced the CoStar Awards Quarterly Deals winners for the second quarter of 2022.  Morton Property Consultants came out on top in the list of winners in the Bristol office market with the Acquisition of Pax8’s new grade A offices at The Distillery, Bristol.  The CoStar Awards Quarterly Deals winners are determined by the top deals executed every quarter, based on price and square footage.

Morton Property Consultants are delighted to announce they have been instructed to act on behalf of Evelyn Partners who are considering their real estates options and opportunities in the Bristol office market for Qu1 2024.

The latest Bristol office market overview…  

Morton Property Consultants are delighted to have been selected to act on behalf of PWC to search and secure new office premises in Cardiff City Centre. The requirement is for grade A new offices of circa 60,000 – 100,000 sq ft.

Morton Property Consultants Wins CoStar’s Q1 2022 CoStar Awards Quarterly Deals Award

CoStar Group, Inc., the leading provider of commercial real estate information, analytics and online marketplaces, today announced the CoStar Awards Quarterly Deals winners for the first quarter of 2022.  Morton Property Consultants came out on top in the list of winners in the Bristol office market with the Acquisition of Clarke Willmott’s new grade A offices at Assembly C, Bristol.  The CoStar Awards Quarterly Deals winners are determined by the top deals executed every quarter, based on price and square footage.

Clarke Willmott to relocate Bristol Head Office

Bristol law firm Clarke Willmott LLP will relocate to a new head office in Spring 2023 and has taken a pre let of the top two floors of the new 11 storey grade A office being developed at Assembly C in central Bristol Homepage | Assembly Bristol

Stephen Rosser, Clarke Willmott CEO commenting on the rationale for the move stated “The pandemic has transformed ways of working for Clarke Willmott and as a result we have updated our strategy overall and our property strategy specifically.

Our people have performed exceptionally over the last two years whilst working flexibly and largely remotely from home to support our clients. The pandemic has fast tracked our ways of working and transformed the way we operate. As we look forward Clarke Willmott is fully committed to delivering excellent hybrid working. For us this is about facilitating excellent remote working combined with an excellent and appealing office environment in order for staff to enjoy working collaboratively in person with clients and colleagues, whilst also enjoying the culturally important social aspects of work”.

Discussing the reason for the selection of Assembly C as the new location for the firm Rosser added “We were looking for a space that enabled a significant reduction of our overall space requirement given our plans for hybrid working, at the same time we wanted an office that provides an attractive destination for our staff that they will enjoy working in. More broadly given our environmental commitments, we want an office that delivers on that front too. Assembly C meets and in many ways exceeds all of these requirements”.

Clarke Willmott were represented by Morton Property Consultants and are delighted to be partnering with the developers AXA Investment Management with Bell Hammer as their development managers. AXA Investment Managers were represented by JLL

Morton Property Consultants was named Agency of the Year from a shortlist that included many of the high profile agencies in the Region.

The judges were impressed by the achievements of the agency set up by property sector stalwart Phil Morton.

The agency was recently involved in one of the biggest deals of the year which will see law firm Osborne Clarke moving to the Halo Building at the Finzels Reach development.

The judges chose the winner as a result of a series of strong deals for well-known local businesses.

Morton Property Consultants has been shortlisted for 2 of the South West Property Awards celebrating the region’s top industry professionals and deals that took place in the sector in the last year.

• AGENCY OF THE YEAR
• DEAL OF THE YEAR

The standout achievements in the sector over the past 12 months will be recognised and rewarded from the wealth of talent in the community across the South West.

David Clensy, editor of South West Business Insider, said: “Once again we had lots of excellent entries, making the judges’ job particularly tough. Insider’s South West Property Awards is always a real celebration of all the hard work that’s been done in the property and construction community over the last year. It’s more important than ever in these times to celebrate the fantastic achievements the sector has seen.”

Phil Morton, Director of Morton Property Consultants commented, “We are delighted to have been shortlisted for these two awards, highlighting how we have worked passionately with our clients to share our knowledge and expertise in delivering sustainable, flexible solutions for their workplaces of the future.”

MPC wish all nominees the best of luck.

Morton Property Consultants is representing First Intuition who opened its first study centre in 2007. FI create a warm and inviting place that aspiring accountants are supported and treated as individuals and not just a number.  Over 7,000 students annually now use FI and achieve industry leading results.

Philip Morton, Director of Morton Property Consultants says ‘During these tough times it is even more important for occupiers to seek professional assistance when choosing the most appropriate office for their future, we are delighted to give First Intuition our knowledge, experience and guidance in making this important decision.’

Representing Altus Limited, a financial services company, Morton Property Consultants successfully relocated the business to Queen Square House in Bath.  Altus will occupy 2,756 sq ft (256 sq m) of open plan office space at the listed Georgian style office building in Bath City Centre from February 2021.
Founded in 2005, Altus employs more than 80 staff and is a local Bath Fintech success story, recognised as a specialist consultancy in financial services markets.

Phil Morton, Director at Morton Property Consultants, comments: “We are delighted to have secured this high quality office space in the heart of Bath. Having searched the market Queen Square House stood out as the best option offering flexibility both physically and contractually with a significant wellbeing offer, including showers, natural ventilation and a courtyard with cycle racks.”

MORTONS MARKET MONITOR 2020

 

MPC is proud to be awarded the quarterly deals winner having successfully provided strategic property advice and relocations to Osborne Clarke (73,000 sq ft) and Ashfords Solicitors (19,000 sq ft).

MORTONS MARKET MONITOR – H1 2020

Morton Property Consultants are on Top in Commercial Real Estate Deal-Making Competition

CoStar Group, the data/analytics leader of the commercial real estate industry, recently announced the CoStar Awards Quarterly Deals winners for the first quarter of 2020. Philip Morton of Morton Property Consultants came out on top in the list of winners in the South West Region. CoStar Awards Quarterly Deals winners are determined by the top transactions every quarter.

Philip’s professional background includes working at Senior Directorship level for Chesterton, Cushman & Wakefield and CBRE before setting up Morton Property Consultants, a niche practice specialising in offices. With over 27 years experience he has been able to guide occupiers along the tricky path to pastures new with Osborne Clarke being his most recent success where they took 73,991 sq ft at Halo, a new landmark grade A office being developed by Cubex Land on Finzels Reach in Bristol City Centre.

Osborne Clarke announces it’s Bristol office move to Halo, set to be one of the UK’s greenest office buildings.  First pre-let for developer Cubex at Halo, part of its successful Finzels Reach regeneration scheme.

Osborne Clarke will move its Bristol office from its current location in Temple Quay to Halo, a landmark green office building that will form the next phase of award-winning Finzels Reach in Bristol.

Bristol developer Cubex bought the former Avon Fire & Rescue site, which will be home to Halo, in 2018 on behalf of Fiera Real Estate Opportunity Fund IV (UK), a programmatic joint venture by Fiera Real Estate that is exclusive to clients of CBRE Global Investment Partners (CBRE GIP).

Halo will be one of Bristol’s most innovative office buildings and will help cement Osborne Clarke’s reputation as a leading technology law firm; it was the first UK law firm to open an office in Silicon Valley 20 years ago. The UK continues to be a strong powerbase for Osborne Clarke which over the last three years has demonstrated impressive year-on-year financial growth. UK revenues surpassed £150M for the first time in 2019.

Osborne Clarke has agreed to take nearly two thirds of Halo – 74,000 sq ft – two years ahead of its completion. The firm will relocate 600 staff from its Temple Quay office into the leading-edge, smart workspace at Halo, taking the top five floors including a private roof terrace.

Halo is a smart Grade A office building of 116,000 sq ft being developed by Cubex and funded by Fiera Real Estate. It is being constructed across the road from the first phase of Finzels Reach, a growing city centre quarter acknowledged as one of Bristol’s most successful regeneration projects. Halo is set to be one of the greenest office buildings in the UK, targeting a BREEAM Outstanding accreditation to meet the toughest new sustainability assessment criteria. It will take a similar design approach to Aurora at Finzels Reach, which was also recognised for its stand-out environmental and digital credentials.

Before choosing Halo, Osborne Clarke carried out an extensive employee consolation to ensure any new office would meet the needs of its people. Osborne Clarke has consistently been recognised for its outstanding culture by legal website RollOnFriday and at the Managing Partner Forum Awards. In line with these values, the new building will have a greater focus on employee wellbeing, with key features including the outdoor space on the rooftop, a bike park, and a glazed façade to maximise views and allow daylight to fill the space.

Halo’s modern features will complement Osborne Clarke’s future-focused brand. Halo features a unique corkscrew-like staircase rising up through a glass atrium, with highly efficient LED lighting, roof-top mounted photovoltaic panels – and even a drone landing pad. The building’s modern design will maximise space with excellent digital connectivity, allowing Osborne Clarke’s employees to move to a ‘connected working’ style, which has already been adopted in its London and Reading offices.

Osborne Clarke has a long history in Bristol stretching back to 1748, and September 2019 marked 50 years since two of the oldest law firms in Bristol – Osborne Ward and Clarke Gwynn & Press – merged and created the firm named Osborne Clarke. From its Bristol beginnings the firm now has international offices in Europe, Asia and the US. The firm moved to Temple Back in 2002 from offices in Queen Charlotte Street. At the time Osborne Clarke employed around 470 people.

The move will see Osborne Clarke join leading organisations such as Channel 4, Historic England and English Heritage, Simmons & Simmons, Barclays, EDF and Bafta-winning BDH at Finzels Reach. This growing neighbourhood, with new homes, a hotel, and workspace, is also a fast-emerging social hotspot, home to Finzels Reach Market, Left Handed Giant, Mission Pizza, Pacific Yoga, Café Matariki, Spicer & Cole, Bocabar and Le Vignoble.

Ray Berg, Managing Partner of Osborne Clarke UK, said: “We’re incredibly excited to have Halo as our new Bristol home. Its standout design and sustainability credentials are a perfect fit for us as we look to invest in a new building that will take us into the future and create an exciting working space for our people and clients.  “Bristol is widely thought of as the UK’s second centre for law and maintaining a strong base in the city will be vital to our business strategy and ongoing success. In the time we’ve been on Temple Quay, the firm has grown considerably; we’re now a €300m business. We’ve opened many new offices internationally but remain firmly committed to the UK and Bristol.”

Phil Morton of Morton Property Consultants commented, “I am delighted to have worked with Osborne Clarke again after relocating them 16 years ago.  Their vision for the future aspirations of the business and workspace for their staff is second to none and Halo will provide top tier, leading edge space which will enable them to exceed their expectations’.

Morton Property Consultants are delighted to be instructed by EPIC, a fully integrated owner, manager, operator and developer of commercial, residential, retail and industrial real estate.  Our role will be as letting agents on the top two floors of 1 Linear Park, a prime city centre office located within walking distance of Bristol Temple Meads train station.  The modern open plan office space equates to a total of 16,700 sq ft with 19 car parking spaces and will be coming to the market in Qu2 2019.  Phil Morton, Director comments ‘This is a fantastic opportunity to bring such great space to the market, at a time when the supply is low in Bristol City centre and demand to be close to the railway station continues.  1 Linear Park will certainly be in pole position for any occupier looking for top quality accommodation in a prime location.’

Aecom have instructed Morton Property Consultants to advise them on their rent review which is pending in Portwall Place, Bristol. Phil Morton commented, ‘my in-depth knowledge of the Bristol office market and particularly the property itself enables me to fully negotiate from a position of authority on rental levels and current incentives in what is a particularly hot market.’

Smith and Williamson retained Morton Property Consultants to advise on their rent review, 10 years after taking occupation of the 4th floor. Phil Morton said ‘knowing the building as well as I do, having acted for the developer and Smith & Williamson initially back in 2007, I was able to negotiate fully and achieve a modest increase in the rent against the backdrop of a very hot market which the client was particularly pleased about.’

Morton Property Consultants are working with Wallace Land, a Scottish based business who specialise in the delivery and promotion of strategic land. Phil Morton, Director comments ‘Wallace Land have a great reputation for delivering on sites that they identify for development and by engaging with them we are working together to promote 15 acres of potential development for residential units.  Together we are looking to achieve the maximum potential asset value for our client.’

On Corps is an adaptive decision sciences company that applies machine learning to turn corporate and sales data into personalised nudges to help people make better decisions. Morton Property Consultants have been retained to support them in their expansion and desire to relocate their offices to incorporate the modern way of working, providing staff with an office that allows them space to enjoy both social but also privacy when required.  Phil Morton, Director comments ‘On Corps are keen to relocated to offices that have the benefit of being close the Bristol Temple Meads Station but at the same time offer space that can be adapted to provide both social and private areas depending on the work that is being carried out.  This brief is clear and precise and we are super excited about working with them to achieve this ideal goal.’

Hartwell House, on the main thoroughfare through the city centre, just 5 minutes walk has high quality offices available from previous occupiers Immersive Labs. Morton Property Consultants is delighted to have been asked to dispose of the space.  Phil Morton, Director comments ‘Immersive Labs are one of the major growth businesses in Bristol having started in the Box works and progressed to Hartwell House they have now doubled their  space and moved to 1 Victoria Street.  Having guided them along the relocation trail we are please to be able to assist in the disposal of the short lease they left behind.’

Consumer Intelligence retained Morton Property Consultants to relocate their business to new offices on Temple Quay, close to Temple Meads Railway Station.  Embracing the modern way of working their brief was to search and negotiate the best terms on a flexible modern office that offer at the ability to work in an agile way, creating a highly efficient and effective workspace for the staff to enjoy being at work.  Phil Morton comments, ‘My brief was clear from the very beginning, they wanted space that their staff would want to come to work in…, simple but effective and I am pleased to say that we achieved this on the 5th floor of 3 Temple Quay, a prime office in the heart of the central business district.’

Morton Property Consultants were delighted to be retained by MoveGB as agents to acquire their new office premises.  A complex negotiation was undertaken by Phil Morton with the new landlord and exiting tenant who assigned their 4 leases across to MoveGB.  With the relocation being time critical it was important for the move to be a seamless as possible which was achieved by understanding the issues and using experience and knowledge of the market to make it happen.

‘We were delighted to work with Phil on a particularly complex lease assignment.  His experience, local knowledge and tenacity were key to our successful relocation and I would thoroughly recommend him to others to achieve a similar result.’

Alister Rollins, MD

Morton Property Consultants has it’s first anniversary this week with plenty to celebrate.  Office relocations have featured highly throughout the year with Integreon successfully moving into 10,000 sq ft in Tower Wharf, Consumer Intelligence taking half a floor at 3 Temple Quay and MoveGB entering the traditional office market for the first time in Bath.  Other notable wins have been the instructions to advise Osborne Clarke on their property strategy for their 85,000 sq ft HQ in Bristol, Smith & Williamson on lease consultancy on 30,000 sq ft at Portwall Place and Imagile Group 10,000 sq ft in Broad Quay House.

Lettings and disposals have also played an important role for the business as Aberdeen Standard retained them to act as letting agents on the newly remodelled, refurbished and renewed 160,000 sq ft One Redcliff Street landmark office tower that will provide over 30,000 sq ft of availability form Qu4 18.

Aside from the leasehold services, Morton Property Consultants successfully sold one of only two long leasehold deals during the year with 8 Unity Street Street achieve record prices for a unique offering in the market.

Phil Morton, Director of Morton Property Consultants commented, ‘I am delighted how the first year has gone, we have made great in roads into the market gaining some significant traction for the business with some significant clients coming on board providing a real foundation to build on going forward.’

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Morton Property Consultants advised Daktronics, the world’s industry leader in designing and manufacturing electronic scoreboards, programmable display systems and large screen video displays on their relocation from their Thornbury offices.  Daktronics are famous for remastering the Piccadilly Circus video displays that were remodelled and renewed recently. Phil Morton of Morton Property Consultants commented, ‘Our involvement enabled the business to focus on what was important to them, getting the Piccadilly project up and running… We looked after their property search and relocation, a top result for all involved.’

Morton Property Consultants worked closely with Integreon a legal, document, research and global business support services specialist to relocate the business from two locations in Bristol into Tower Wharf’s fourth floor of 10,719 sq ft at a passing rent of £28.50 psf pa. The business are delighted with their new accommodation which is full of natural light, open plan with maximum flexibility in one of Bristol’s prime office buildings close to the station.  Phil Morton Director of Morton Property Consultants said ‘We are extremely pleased to have been part of the team to relocate Integreon into such great offices. With a tough deadline to meet we achieved a great deal for them, on time which will allow them to smoothly relocate’.

Extract from Bristol Magazine:

The Bristol City Centre Business Improvement District was created after a ballot of businesses in July 2017. It is working for the next 5 years to make significant improvements to the city centre area by:

• Improving the welcome
• Improving the safety.
• Improving the ‘look and feel’.
• Promoting success.
• Acting in the best interests of its levy payers.

Phil Morton, Director of Morton Property Consultants commented, ‘We are delighted to be part of the BID team in securing their second office move in 18 months into larger space in Bristol City Centre.  The BID team, and their Ambassadors are enabling a partnership to evolve with organisations and ensure that high levels of services are developed and maintained throughout the city centre making the city cleaner, safer and ultimately more attractive for inward investment and tourism.’

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Serviced offices are coming of age as the modern way of working accelerates to complement the changing environment within the workplace.  Serviced offices are being ranked using a star system in Bristol, with 5 Stars being the best.  In total there are over 20 centres in Bristol City Centre being run as either pure serviced offices, or a mixture of shared working, managed working, coworking or virtual offices.  This allows not only start ups and scale ups to successfully secure space regardless of their covenant status, but also larger corporates who want to maintain the ultimate flexibility in their occupation property portfolio.

Landlords are also becoming more and more interested in using a service office operators to manage buildings for them and benefit from an increased rent roll over upto 15% above the market rent.  Some service office operators are achieving lease terms on average of 3 – 4 years on space as large as 2,000 – 3,000 sq ft.

Phil Morton, Director of Morton Property Consultants comments, ‘Serviced offices are here to stay and the quality of their offering is increasing to ensure they are at the top of the list when any applicants are scouring the market for space’.

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Morton Property Consultants are pleased to bring a rare opportunity to purchase a long leasehold office in the heart of the city centre, close to local amenities, bars and restaurants.  8 Unity Street comprises an impressive period four storey terraced Georgian property with direct access off Unity Street, a basement and rear courtyard. Internally the property is arranged with various compartmentalised offices on each floor including male and female WCs and a kitchenette and is approximately 2,750 sq ft.  Phil Morton, Director of Morton Property Consultants commented ‘This is an exciting rare opportunity to buy a commercial long leasehold in the city centre and we are already experiencing a high level of interest.’

Morton Property Consultants are delighted to have been retained by Orega, a privately owned serviced office provider for the South West and South Wales to acquire a number of offices throughout the South West and South Wales.

 

Operating in a variety of city centre locations both in the UK and Europe the business is expanding as corporate requirements change to a more flexible way of working. Offering the highest level of support services and professional environments the new offices will be carefully selected and equipped for the next generation of office occupiers

Phil Morton commented; ‘Orega are leading the way in high quality corporate serviced offices. With a caring attitude, neutral branding and innovative solutions, Orega provides a unique opportunity to work with expanding occupiers to enable a more flexible, cost efficient use of property for corporate occupation.  I am delighted to be part of the team to deliver the new office hubs of circa 20,000 sq ft to enable the successful future growth of the business.’

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