UK law firm Burges Salmon has agreed to extend and renew the lease of its Bristol headquarters in what is understood to be the largest office letting ever completed in the city centre.
The firm has agreed with building owner Mapletree to take all of One Glass Wharf, comprising 216,172 square feet of Grade A workspace, until 2045. It had occupied 174,607 square feet at the site.
Burges Salmon said the deal will "provide the firm significant flexibility to support its future growth ambitions". It has been at the building since 2010.
Mapletree will carry out a multi-million-pound refurbishment of One Glass Wharf, with the works set to deliver "significant sustainability and environmental enhancements and major improvements to the building’s management systems and amenities".
They will support the delivery of the tenant's Carbon Reduction Plan and will start later this year. Burges Salmon also has offices in London and Edinburgh where it is working to double its footprint.
Roger Bull, managing partner at Burges Salmon, said in a statement: "Our decision to extend our occupation at One Glass Wharf until 2045 reflects the growing demand for ‘offices of the future’ as businesses rethink how they bring people together.
"Alongside our existing projects in Edinburgh and London, the deal we have struck in Bristol with Mapletree demonstrates our belief that collaborative working is most productive for both our clients and our people, and we are expanding our office HQ to support the future success of our firm."
He added: "Our office isn’t just bricks and mortar – it is a core part of how we create a healthy, inclusive and supportive workplace culture across the firm. We’re proud to be a major employer in Bristol and One Glass Wharf is a unique ecosystem where our people enjoy spending time, with spaces designed to champion wellbeing, innovation and connection, support hybrid working and help our community engagement initiatives.
"The extensive upgrade will deliver an even better working environment for all who experience it, strengthening the firm’s culture of collaboration and high-quality client service."
CoStar data shows the owner bought the property for £95 million in 2015.
Rory Carson, director, asset management for UK and Ireland, Mapletree, added: "This deal demonstrates the remarkable benefits of finding alignment between owners and occupiers of office buildings.
"The regear at One Glass Wharf allows us not only to invest in future-proofing the building through comprehensive upgrades to its operational sustainability, sense of arrival and staff amenity, but also to retain the embodied carbon in the existing building.
"The close collaboration between Burges Salmon and Mapletree when designing the upgrades and specifying the works means that our investment will deliver a headquarters that Burges Salmon can be proud to call home for years to come, as the firm continues to flourish."
Burges Salmon was advised by Savills and Mapletree by JLL.