Melburg Capital and Winvic Construction have acquired the 130,000 sq ft Spectrum office building in Bristol city centre from the fixed charge receivers for an undisclosed price.
Originally constructed in 1984, the building is located on Bond Street, close to Melburg’s 360 Bristol – a former office building being transformed into a 399-bed eco-PBSA scheme, with Winvic acting as lead contractor.
The transaction is the first undertaken by Melburg and Winvic since the companies formed a strategic partnership to identify and reposition value-add opportunities across the UK with Winvic supporting delivery of these projects.
Jack Burgess, chief executive of Melburg, said: “With OakNorth’s support, we’re pleased to formalise this partnership with Winvic given our successful collaboration on 360 Bristol, securing a Gateway 2 approval in record time. This acquisition reflects our confidence in Winvic’s delivery expertise, a joint commitment to pioneering ultra-low carbon development, and a shared belief in Bristol’s continued renaissance.”
Mark Jones, managing director – Multiroom at Winvic, added: “We’re proud to be collaborating with Melburg again. Our early engagement in the process has enabled us to work as a strategic partner, aligning design, buildability, and cost management from the outset. In today’s evolving regulatory environment, particularly under the Building Safety Act, early contractor involvement is more important than ever.
“By combining our technical expertise with Melburg’s dynamic, value-driven approach, we are well positioned to deliver a best-in-class scheme that responds to both legislative demands and market expectations.”
Lucas Anglin, director of debt finance at OakNorth, which provided a senior debt facility to the JV partners, added: “We’re delighted to support Melburg and Winvic on this landmark acquisition in Bristol. The partnership between two such highly capable and forward-thinking sponsors aligns perfectly with OakNorth’s commitment to backing ambitious, sustainable projects that deliver long-term value. With their proven track record at 360 Bristol and a shared vision for regeneration, we’re confident this scheme will play a meaningful role in the city’s next chapter.”
Savills acted for the JV partners and Cushman & Wakefield acted on behalf of the joint LPA/fixed charge receivers. Keystone Law and Freedman + Hilmi provided legal services.