Bristol Temple Quarter to create 10,000 new homes and thousands of new jobs
A multi-disciplinary team of lawyers from Bevan Brittan has helped to secure funding agreements that will kickstart the regeneration of Bristol’s Temple Quarter.
Following the award of £95m from central government for Temple Quarter in June 2022, legal experts at the national firm advised the West of England Combined Authority (WECA) on agreeing the terms of the grant funding agreement between WECA and the Temple Quarter partners. Bevan Brittan also helped to build the framework for the money to flow down to Bristol City Council and Network Rail as the Combined Authority’s delivery partners.
The agreements were signed by the Temple Quarter partners (Bristol City Council, Network Rail, Homes England, and the West of England Combined Authority) in April.
The Bevan Brittan team also assisted on specific delivery packages related to Bristol Temple Meads station, funding advice to WECA and in relation to the funding for Network Rail and its negotiations with Great Western Rail.
The Bristol Temple Quarter project, which will be the largest regeneration scheme in the city’s history, is expected eventually to deliver 10,000 homes and 22,000 jobs in two phases by breathing new life into around 130 hectares of brownfield land in the centre of Bristol.
The first phase of work focuses on the area immediately around Bristol Temple Meads station. Three new station entrances will be delivered, funded by the £95m from central government. The government funding will also enable the delivery of 2,500 homes and 2,200 jobs by 2032. The second phase of the project in St Philip’s Marsh will be the subject of more detailed planning, starting later in 2023.
Chris Harper, partner and head of corporate at Bevan Brittan, who led the firm’s advisory team on the funding package, said: “It is great to see Homes England getting behind Bristol as a place to live and work and generating new opportunities for people in this cosmopolitan and outward-facing city.
“This exciting project will have a huge impact on the city and will be something that regenerates an area which has until now been underdeveloped, bringing it into vibrant economic use. It will be a positive catalyst for the area across a wide range of public policy goals – housing, jobs and sustainability.”
He added: “We’ll continue to support and advise WECA on this major project as it begins to develop the site in partnership with the City Council, Homes England and Network Rail. It will be fascinating and rewarding to see it come to fruition in the years to come and deliver real benefits for thousands of people.”
West of England Metro Mayor Dan Norris added: “I’m thrilled that the Combined Authority, that I lead, has been awarded £95 million to invest in Temple Quarter, one of the most exciting regeneration projects in Europe.
“Now we need to make sure that the buildings and infrastructure and the high skilled jobs we bring in truly match our ambitions on tackling the climate emergency and use the skills of our amazingly talented workers to make this area something to be very proud of.
“Combine this with the refurbishment of Brunel’s iconic station and we really will have, at long last, the jewel in the crown in the heart of our great city and fantastic region.”
Alistair Kirk, Interim Director of Infrastructure, complimented Bevan Brittan on their advice during the project to date “Bevan Brittan have provided comprehensive client legal advice in a complex, challenging, and multi partner environment”.
The Bevan Brittan team was led by partner Chris Harper alongside partner Jonathan Turner, head of the firm’s Commercial & Infrastructure Department. Banking and finance specialist and partner David Moore, and senior associate and subsidy control specialist Edward Reynolds completed the advisory team from the firm.