September 3, 2021
Originally published by Cubex Land.
A key milestone has been reached on works to deliver 66 affordable homes at Coopers Court, part of the award-winning Finzels Reach mixed-use community.
Coopers Court, which represents over 20% of the homes being delivered on the second phase of Finzels Reach, consists of 48 homes for the social rented market and 18 for shared ownership. Together, these will contribute to addressing the housing crisis in Bristol as well as providing an opportunity for first-time buyers to get on the property ladder, particularly with Help to Buy equity loan scheme due to end in 2023.
Works on Coopers Court, which is due to complete in 2023, have been progressing well with the foundations now complete, marking a key delivery milestone in the project known as Golden Brick. The concrete frame is due to go up in the coming weeks, meaning the new structure will start to become visible to passers-by. Coopers Court is being developed by Cubex, backed by Fiera Real Estate, for housing provider Abri.
Sarah Trahair-Williams, associate director at Cubex, said: “We are very pleased to have reached this important milestone on Coopers Court, an integral part of Finzels Reach phase two. Thanks to a successful partnership approach together with housing provider Abri, this complex, once-derelict city centre site can be transformed into much-needed, high quality new affordable homes. Meanwhile, we are actively seeking future development opportunities and are looking forward to announcing some exciting new projects soon.”
Coopers Court is designed to have a strong identity and sense of place, whilst ensuring it connects well to the surrounding area. Significant investment in improvements to the area around the building, including new landscaping, pedestrian and cycle routes, will help create a more attractive area and foster a sense of community.
The sustainable and energy-efficient building connects into Bristol City Council’s District Heat Network and includes a bio-diversity roof amenity space, 94 cycling spaces and only four car parking spaces to help tackle the environmental crisis.
Michelle Hyde, head of land and planning at Abri, commented: “I’m delighted to see the progress being made at Coopers Court, working together with Cubex and FRE we’ve reached a significant milestone in our journey. We’re now one step closer to providing more high quality and sustainable homes in the heart of Bristol.
“The mixed-use development will help tackle the shortage of affordable housing in the area; offering first-time buyers a great opportunity to make their first move on to the property ladder, creating a community for everyone to belong, grow and thrive in.”
Cubex bought the former fire station site in summer 2018 on behalf of Fiera Real Estate Opportunity Fund IV (UK), a programmatic joint venture by FRE UK that is exclusive to clients of CBRE Global Investment Partners (CBRE GIP). FRE UK is currently fundraising for FREOF V, targeting £250m of value add and opportunistic real estate transactions in the UK.