Investec REALIS acquires prime Bristol office in partnership with XLB

Investec Bank plc, a leading international financial services provider, today announces that Investec REALIS (“REALIS”), the equity strategy launched in 2024 by Investec, has acquired 2 College Square, a 53,000 sq ft office in the heart of Bristol’s Harbourside.

In line with REALIS’s strategy of working alongside best-in-class operating partners, XLB will be responsible for asset and development management, alongside sourcing future acquisition opportunities.

Constructed in 2011 and located in Bristol’s historic Harbourside, 2 College Square offers flexible floorplates in a prominent central business district location and is currently 75% occupied, predominantly by law firm CMS and investment manager Hargreaves Lansdown.

REALIS and XLB intend to undertake a modernisation programme focused on enhancing the building’s specification and amenities, including the introduction of a roof terrace, repositioning the common areas, improving end-of-trip facilities and refurbishing vacant office space, with the aim of meeting modern occupier demand and capturing the asset’s reversionary potential.

The Bristol CBD office occupational market enjoyed a strong 2025, with Grade A rents now more than £50 per sq ft.

REALIS launched in 2024 following a period of rapid repricing within select parts of the real estate market. Investors benefit from Investec’s established, data-led deal origination platform, which has enabled it to build a c.£3 billion real estate loan book and a global network of 150+ operating partners. This transaction is REALIS’s third acquisition with XLB in 13 months, following investments in strong regional locations including Manchester and Brighton.

Tom Punch, Real Estate Equity Specialist at Investec, commented: “This acquisition exemplifies REALIS’ core office strategy of partnering with best-in-class operating partners to modernise high-quality assets with strong fundamentals in supply-constrained markets. We’re delighted to extend our partnership with XLB and look forward to delivering a best-in-class scheme for occupiers.”

William Poole, Partner at XLB, added: “Bristol benefits from a strong occupier base and a limited Grade A pipeline over the next 24 months. 2 College Square has excellent fundamentals and the planned programme will materially enhance the occupier offer. XLB looks forward to working alongside Investec REALIS to deliver improvements that strengthen the building’s competitiveness and drive performance.”

Investec REALIS and XLB were advised by DTRE and Shepherd & Wedderburn.

Recent activity across Investec Real Estate reflects continued support for high-quality, future-fit real assets, including the refinancing of an office-led mixed-use campus in London’s Knowledge Quarter and development funding for a Bristol living-sector scheme.