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AEW launches Bristol regeneration

30th April 2024

AEW has been granted planning permission for the sustainable redevelopment of a former department store in Bristol, UK.

The real estate investment manager will transform a former Debenhams department store into a residential mixed-use scheme with 500 rental apartments, 100 of which will be designated affordable.

The project will regenerate create a new pedestrianised, tree-lined street, with retail and hospitality space and also reinstate a medieval street, which was lost when the Debenhams store was constructed in the 1950s.

Sustainability features will include the installation of a total of 400 sq m of solar panels, as well as air source heat pumps, with the fully-electric scheme connected to the Bristol Heat Network.

Charles Royle, portfolio manager, AEW, said: “This is an important new landmark scheme for Bristol, providing much needed private and affordable housing, and a huge step forward in the regeneration of the site and wider Broadmead area.  We saw an opportunity to regenerate this underutilised urban building and invest in the creation of a vibrant new area.”

The property was acquired in 2022 by AEW’s Urban Real Estate Fund, which has a strategy of repositioning underutilised retail spaces to support the regeneration of town centres.    

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