A £74m redevelopment of Bristol’s prominent Canons Wharf office complex is set to move forward after a major financing agreement cleared the way for construction to begin.
Puma Property Finance has secured its largest loan to date, providing £74m to support a joint venture between Mactaggart Family & Partners and Kinrise. The funding will enable a comprehensive low-carbon refit of the Grade II-listed waterfront estate, located at the heart of Bristol’s Harbourside.
The scheme will transform the former Lloyds Banking Group regional headquarters into around 165,000 sq ft of modern office accommodation across two buildings, complemented by 18,000 sq ft of food and beverage space overlooking the Amphitheatre. Designed for flexibility, the buildings can operate either as a single corporate headquarters or as a multi-let campus, responding to changing occupier demands.
Alongside office space, the redevelopment will deliver a wide range of amenities aimed at creating a high-quality workplace environment. These include a gym and wellness facilities, saunas, an auditorium, a rooftop pavilion, landscaped gardens and terraces, helping to position the scheme as a leading example of next-generation office design.
Sustainability sits at the core of the project. The refit is targeting BREEAM Excellent, EPC A, WiredScore Platinum and SmartScore Gold ratings. A low-carbon retrofit strategy will be employed, retaining and reusing the existing structures to significantly reduce embodied carbon while upgrading performance through improved glazing and natural ventilation.
The all-electric buildings will be powered by green energy and will utilise water-source heat pumps drawing from the adjacent harbour. Rooftop solar panels, new tree planting and extensive green landscaping will further support the scheme’s environmental credentials.
Originally designed by Arup Associates and constructed by Bovis Construction in the late 1980s, Cannons House was awarded Grade II-listed status in 2023 in recognition of its architectural importance and contribution to the regeneration of Bristol’s docks.
Construction is expected to begin in summer 2026, with practical completion targeted for late 2027. Once complete, the project is expected to play a key role in redefining Bristol’s office market, delivering a landmark example of sustainable retrofit within a historic urban setting.
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