An historic building in the centre of Bristol has been sold for £11.9million.
Bristol-based developer Cubex and funding partner Fiera Real Estate have sold the Fermentation Buildings at Finzels Reach to Mendip District Council.
The newly renovated office space is already rented out to a number of companies including Historic England, English Heritage and Channel 4, which has based its new creative hub there.
Bocabar's new restaurant and bar, and wine lounge and shop Le Vignoble, is also based on the ground-floor of the building, along Hawkins Lane.
Peter Walford, director at Cubex, said: "This sale marks an important milestone for us in our journey to transform this once derelict city centre site into a vibrant new quarter providing high quality, unique places for people to live, work and socialise.
"It has been hugely satisfying to see Finzels Reach come into its own over the last year, with the neighbourhood now home to many residents and businesses, whilst also fast being recognised as one of the city's new social hotspots."
Estate agency Savills and law firm Osborne Clarke advised Cubex on the deal, while commercial property company Cushman & Wakefield and law firm Ashfords advised Mendip District Council.
The sale of the Fermentation Buildings marks one of the final elements of phase one of Finzels Reach, which is now in the shared ownership of a collection of institutional and private investors.
Hawkins & George, the new build-to-rent apartments, were sold to residential property business Grainger last year, while green office building Aurora was sold to Royal London Asset Management.
Insurance business AXA forward-funded the Premier Inn hotel and Bridgewater House was purchased by a private European investor.
Walford says Cubex is now planning "future development opportunities" in regional cities and towns across the South West and Wales, and forging on with phase two of Finzels Reach.
He added: "We are excited to be now pressing ahead with our plans for the next phase of Finzels Reach and looking ahead to future development opportunities."
Cubex and Fiera Real Estate started regeneration work at Finzels Reach in 2012 when the team stepped in to develop the site after a previous attempt went into receivership.
