UK: Legal & General has committed to investing £350 million to transform Bristol’s Temple Island from an unused plot of land to an urban area, complementing the existing Temple Quarter partnership.
Zaha-Hadid Architects designed the plans for development, which include a conference centre, a hotel with 345 rooms, 550 new homes, and two grade A office buildings.
CEO of L&G, Nigel Wilson, said: “Our investment partnerships in cities such as Oxford, Manchester, Cardiff and Newcastle are already delivering at pace, and likewise our vision for the Temple Island will deliver a much-needed new quarter in Bristol. The conference centre will attract delegates from around the world, whilst the offices and affordable homes will meet an urgent local need and support new ways of living, post-pandemic.”
The plans also include heating provided by the district heating scheme from Bristol City Council. Additionally, the buildings will aim for a minimum of BREEAM Excellent status, meaning they will be in the top ten per cent of buildings by BREEAM standards. These plans stem from L&G’s commitment to combating the climate crisis.
The “Temple Quarter” partnership that L&G’s work will complement consists of Bristol City Council, the University of Bristol, and Network Rail.
Wilson said: “We have been attracted by Bristol City Council’s commitment to become a “city for all,” aligning with our ambitions to level up across UK regions and cities, using the power of pensions. Alongside, we firmly believe this development offers a perfect complement to Bristol University’s new Innovation Campus, providing space to incubate new talent and start up companies coming out of the university.”
Local officials hope the developments will stimulate the local economy, as effects of the pandemic still linger.
Mayor of Bristol, Marvin Rees, said: “This investment is welcome to deliver a much needed boost to jobs and economic growth in Bristol as we recover from the pandemic. The development in Temple Quarter will deliver affordable homes that will play a significant role in bringing people and families to the city centre, within easy active-travel access to jobs and leisure. This development is a step forward in our commitment to stretching targets on affordable homes as well as a balanced response to the linked and fundamental challenges of housing, jobs and climate. We are delighted to be delivering through collaboration with our key partners, Legal and General, alongside the University of Bristol and Network Rail”.
L&G will begin the first phase of its public consultation with local residents and businesses on its plans for the project this summer.
