AFTER FIVE VERY DIFFICULT YEARS,when you had to look hard to find thepositives in the property market, we’vefinally seen the beginning of confidencereturning – and with it, activity levels haverisen above last year’s on almost allfronts.

Investment sentiment is always a definingfactor, and the last six months in particularhave been extremely busy: investors, sitting onlarge amounts of underused capital, arelooking to the regions for better value than theycan find in London. Bristol, because of itsreputation as a sound business base withstrengths across key growth sectors, hasbenefitted from that.

And while the occupational market stillremains challenging, there is plenty to beoptimistic about. The city’s first two bigspeculative office developments for severalyears are now underway – spurred on byseveral sizeable lettings and active enquiriesfrom blue chip accountancy practices.

Bristol is also sharing in the nationwiderecovery in the housing market, with agentsreporting a busy 12 months with price risesabove the national average, a very robustletting market and a great deal of enthusiasmfrom buy to let landlords.

Taking long term advantageAll positive indicators that mark 2013 as a

turning point in the city’s fortunes. The bigquestion is, of course: is all of this sustainable?

Bristol can only do so much to make surethat investors, occupiers and home buyersremain confident: much will depend uponnational and international factors well beyondour control.

But within the bounds of what we can affect,I believe we are coming out of this recessionwell placed to take long term advantage of the

resurgence in economic activity. We don’t have the ‘overhang’ of quality

space we had to shift after the last recession,and some unloved offices seem set for a newlife as city centre apartments. We don’t havelarge numbers of homeowners in negativeequity. Unemployment locally is low. The sub-region is earmarked for growth by theGovernment, aided by an LEP eloquentlyarguing our cause, and we can look forward toeven closer ties to the capital with the railelectrification.

Our reputation is also working well for us:Bristol has been voted the “best city to live in”within the UK for wealth and happiness as wellas the top place for ethical investment outsideLondon and the UK’s fourth fastest growing city.

Raising our international profileLooking into the medium term future, the

link road connecting south Bristol to the rest ofthe city has moved a vital step forward, as hasthe long-awaited Arena. Next year, Bristol willbe European Green Capital 2015, and one of ourarticles hears from the man responsible justhow we can all capitalise upon this massiveopportunity to raise our international profile.

S P R I N G 2 0 1 4

B R I S T O L P R O P E R T YA G E N T S A S S O C I A T I O N

N E W S L E T T E RNUMBER SEVENTEEN

WHAT’S INSIDE www.bpaa.net

GREEN IN 2015Kris Donaldson on Bristol’sGreen Capital status

RESI REBOUNDSThe market returns toform... but is it sustainable?

SPEC RETURNSDeveloper confidenceshows in two big newoffice schemes

After fivevery difficultyears, BPAAPresidentAndrew Mainsees this asthe timewhen activityacross allsectorsbegins to bounce back and confidencelevels are restored.

Market confidencestarts to return

Continued on page 2

Industrial supply starts to dry

PAGE two PAGE three

THE IMPROVING ECONOMIC situationhas helped deliver take up approaching2.2 million almost matching last year’sindustrial and distribution activity - inline with the ten year average. The toprents achieved were at £7.50 psf, closeto 2012’s top deals of £7.75.

The year was also marked by relatively fewvery large transactions – with nothing tomatch the giant 2012 deals involving Asda andthe Co-op. The 2013 highlights were specialistfood and drink distributor Culina taking211,000 sq ft at Crossflow at Cabot Park at£5.75psf, and Culina being replaced at itscurrent 115,000 sq ft adjacent facility byPCL/Arla Foods.

There was, however, an encouraging flowof smaller and mid sized lettings, and the NewYear has started with a number of quality 40-60,000 sq ft enquiries being circulated.

With very little fresh stock being added,satisfying new enquiries is now concentratingagents’ minds, with supply standing at 4.5million sq ft around 10% of the built stock inthe area: although very little of this is new orquality space, it does include the remaining330,000 sq ft at Crossflow (pictured).

Speculative deveopment returnsWith plenty of land available on Severnside,

including several sites with infrastructure inplace, larger potential occupiers would nowalmost certainly go for a design and buildroute. In other locations too, this represents aviable option, as demonstrated by WBC’sacquisition of 20,000 sq ft in Warmley.

Speculative development has also made areturn, with five units totalling 15,000 sq ftunderway at Caxton Business Park, Warmley,following on from the speculative trade park

developed at Longwell Green last year whichis now almost fully let.

With little new space immediatelyavailable, incentives for prime space arebeginning to harden and lease durations areextending. 2014 could see rentals firmingfurther: circa £7.75 psf for accommodationbelow 10,000 sq ft; £6 to 6.50 psf for modernand mid-range buildings; and between £4.75 -£5.50 for good quality second hand.

Bristol City Council and SouthGloucestershire are now pressing theHighways Agency to prioritise a new junctionon the M49, arguing that this would acceleratedevelopment at the Avonmouth/SevernsideEnterprise Area.

This could also attract other uses,although concerns around the flood plainremain.

The rise and rise of Internet retailingSeveral requirements are still live,

including 500,000 sq ft for The Range, while

Marks & Spencer are expected to be the nextmajor retailer looking for regional capacity.

The rise and rise of Internet retailing isdriving demand among parcel operators, witha number upgrading or acquiring newfacilities of between 25 and 50,000 sq ft.Bristol is still hoping to benefit as Amazonlook to roll out smaller regional hubs – againup to 50,000 sq ft.

Longer term, there are hopes that the newlink road connecting the South of Bristolmight increase activity in local industrialestates in that part of the city and encourageowners to invest further. The new road,together with better pubic transport links, isexpected to start making a difference from2016 onwards.

Bristol has never fully exploited thecommercial opportunities of having a busyregional airport: the new road might justmake the difference.

In achieving sustainable growth over thecoming years, the property sector - andthe BPAA in particular - has a major roleto play.

Expanding populationBristol needs significantly more

housing for its expanding population thanis currently being built. It requiresinfrastructure investment to make theavailable employment land attractive todevelopers and occupiers – ideally movingtowards a position where retainedbusiness rates and future revenue streams

can be harnessed locally to kickstartdevelopment.

It requires a sensible approach to dealwith the congestion issues that continue tobeset the city – and that doesn’tnecessarily include penalising car users bycreating parking zones without firstputting in place viable and attractive publictransport.

The Bristol city region faces enormousnational as well as global competition towin footloose occupiers, including thosebased in London and looking to establish

regional back office bases – making thetask of promoting the city ever moreessential.

We have to continue arguing our cornerfor what will deliver sustainable economicgrowth and prosperity to Bristol: informingthe public debate at every opportunity,supporting the City Council and otheragencies when they are on the right track;making sure the BPAA’s voice is heardwhen we feel they are not.

Arguably, we have never been betterplaced to do just that.

Confidence returns - continued from page 1

INDUSTRIAL REPORT

A YEAR OF TWO HALVES ended verystrongly for the Bristol investmentmarket as confidence in the economysteadily grew, and investors seekingbetter value than they can currently findin London turned their attention to theregions… with Bristol high on their list.

Many institutions, pension funds andprivate equity funds have been sitting ongrowing amounts of capital, and thegeneral perception is that property priceshave now bottomed out, while the returnsavailable on a wide range of properties nowreflect an attractive income yield.

The occupational market is laggingbehind investment sentiment, but the factthat the city has very little quality spaceavailable in terms of Grade A offices orgood quality industrial space, has placedBristol in a far better position to recoverthan it was in at the end of the lastrecession.

There is a strong indication that primeyields have come back by around half apoint since the summer, while the doubledigit returns available on propertieswithout the benefit of strong covenants areproving very attractive. Properties thatwould have been hard to shift 12 monthsago have seen competitive bids when theycome to market.

One of the most interesting trends hasbeen the growing investor appetite for lesstraditional sources of revenue streams andcapital growth – including student housing,private sector rented housing, hotels, car

show rooms and car parks. This looks setto continue.

One area where investors are provingmore circumspect is retail, with concernsthat another High Street failure mightfollow on from a year which has seen afurther shift towards Internet retailing.

That said, one of the highlightinvestments of the last 12 months was inBroadmead: Threadneedle PropertyInvestments’ purchase of the longleasehold interest in 15-33 Union Street,Bristol BS1 from F&C Reit AssetManagement for £8,585,000 - reflecting anet initial yield of 9%. Tenants of thepurpose-built retail and leisuredevelopment include Wilkinsons, Subway,KFC and Kemps Jewellers.

Just as 2013 ended, Blackrock UKProperty Fund secured the biggest deal of

the year, Portwall Place (162,581 ft)pictured below, for a purchase price inexcess of £50 million and a yield of 7%,surpassing Legal & General Property’sacquisition of the nearby 108,049 sq ftRedcliffe Quay development for £19.7million.

Other key deals within the city includedthe 60,100 sq ft Embassy House in Cliftonbeing sold to Kames Capital for £7.5m(9.0%); and the 34,880 sq ft 18-21 QueenSquare being purchased by ThreadneedleProperty for £2.75m (9.3%).

One massive potential deal bubblingbeneath the surface at the time of going topress was Land Securities’ £200m 50%stake in the 1.5m sq ft Cabot Circus, withseveral major players expressing interest.

Bristol benefits from sentimentINVESTMENT REPORT

2013 PROVED A RELATIVELY steady year nationally andregionally for the retail sector and while, once again, therewere several notable High Street casualties (notably HMV,Blockbuster and Jessops) these largely reflected advances intechnology rather than reduced consumer spending.

The pressure on the pound in people’s pockets also acceleratedthe continuing shift towards discounters – squeezing the marketshares of middle budget food and fashion retailers in particular.

However, the bigger, longer-term challenge for retailers issuccessfully integrating the Internet – and this will have a propertydimension as different options such as click and collect and homedelivery continue to gain in popularity. At present, many retailersare accommodating the shift by making use of in-store space.

The other significant trend of the last couple of years – theopening of ever more branded convenience stores in our cities –has also been very evident in the last 12 months as competition

hots up between the big supermarket chains to maintain marketshare.

2013 marked the fifth anniversary of the opening of Cabot Circusand the 15th anniversary of The Mall – and both locations had astrong year. Voids were very low, and the turnover in stores (20deals in the Mall, 10 in Cabot Circus) reflect continuing demand forspace as well as proactive centre management.

Perhaps the most significant leisure sector deal of the year inBristol was The Cuban taking 12,000 sq ft on Harbourside. This is anew restaurant and bar concept launched by entrepreneur RogerPayne, whose other formats include Shaka Zulu in Camden. Thenew venue will specialise in Cuban cuisine, cocktails and rum, andit will also host Jongleurs Comedy Club at weekends in a 280-seater cabaret and events space.

Reconfiguring the retail marketRETAIL & LEISURE REPORT

THE LAST TWELVE MONTHS have seensales volumes return to the highestlevels since the start of the recession.

Greater confidence in the economy andthe continuing growth of the city, togetherwith support at the lower end of the marketfrom Help to Buy, have all combined todrive up volumes as well as prices.

The nationwide rise in house pricesoutside of London was more than matchedin some parts of Bristol, with areas such asClifton and Southville recording up to 12%,although other parts of the city saw farmore modest rises of around 5%.

While the strong demand for familyhomes is still being catered for in thesuburbs – with several new developmentscoming on stream in north Bristol -apartments for young professionals anddownsizers are being snapped up in the citycentre area.

Accidental landlordsA significant number of these are being

bought off plan, including a high proportionfor buy-to-let. While some people startedas “accidental landlords” because of a slowmarket, many have now embraced buy-to-let as a long-term method of investment.

At the start of 2014, very few new unitswere available for sale, and agents werewaiting for fresh stock. Bristol has not hadto deal with the levels of overhang seen inother regional cities, helping to maintainprices and encourage new development.

The first to be released will be atFinzel’s Reach, now out of administration,where a phase of 73 apartments is likely tocome on stream in February. Other newdevelopments available this year includefirst phases of the former General Hospitaland of Wapping Wharf.

Demand for rented continuesAlso in the pipeline are units being

created as part of the mixed-usedevelopment at The Paintworks, whilesome 20 applications have been submittedto convert largely unoccupied offices

through “permitted development rights”.

Taking offices out of circulationThis looks set to solve two challenges

for Bristol agents: helping to meet demandfor city centre apartments and studentaccommodation and taking unwantedsecond hand office stock out of circulation.The developments, which face far lessrigorous planning restrictions than newbuild, are also not subject to affordablehousing allocations – effectively reducingthe cost to developers (and purchasers) bybetween 10 and 20%.

One example of an obsolete office beinggiven a new lease of life is the landmarkformer “Electricity House” building on thecity centre: this was bought by CrestNicolson in October, who have plans for amixed use development for the 90,000 sq ft

grade II listed building.Although the office space figures look

significant – around 750,000 sq ft in total –this still only represents around 1000 –1500 units: less than one year’s take up.

There is an expectation that some ofthese developments will be pre-sold toprivate sector housing operators: withmanaged blocks now commonplace in theUS and Europe as well (increasingly) inLondon, the trend is expected to gainpopularity in UK regions in 2014.

Looking ahead, there are expectations ofahead of inflation rises in prices during2014 – probably of around 5% - althoughnot of this accelerating to an unsustainablelevel, with a modest rise in interest rateslater in the year likely to act as a brake.

PAGE four PAGE five

Residential returns to formLast year, the “life signs” in theresidential market showed distinctpromise, and 2013 didn’t disappoint.Agents were busy and more newdevelopments are now comingforward to help meet demand.

LAST YEAR’S OFFICES REPORThighlightedtwo speculative schemes waiting in the wings,where developers had “their fingers on thetrigger” pending a pre-let or a sizeable chunkof Grade A being taken out of circulation.

While no pre-lets have been announced, therehave been several sizeable lettings elsewhere.And this, together with the growing confidence ofinvestors in the economy (and Bristol inparticular) have meant that work is nowunderway at both Salmon Harvester’s 98,523 sqft, 2 Glass Wharf scheme at Temple Quay andSkanska’s 58,365 sq ft at 66, Queen Square(pictured).

Space at 66 Queen Square will be available inpart floors upwards (4,500 sq ft) and £29.50 psf isbeing quoted, a range of office sizes will beavailable at Glass Wharf, starting at 3,369 sq ft,with £28 psf being quoted.

An equally important stimulus to the twospeculative developments has been the numberof active enquiries in the market from the “bigfour” accountants.

With Grade A space supply now limited, thereis confidence that the two schemes coming onstream over the next couple of years will findready takers. There are other office consents inthe pipeline, but these will now almost certainly

be put on hold.As we emerge from the recession, Bristol is

expected to experience one of the highest growthrates of the UK’s core cities. The city has alreadyestablished itself as a major centre for financialand legal services and one of the anticipatedbenefits of the rail electrification programme is toattract more back office functions from London.

That confidence has been reinforced by citycentre office take-up 23% higher than 2012 – withsomething of a return of mid and bigger deals,rather than the host of smaller deals that keptagents occupied in 2012.

Conversion of older officesChief amongst those sizeable deals were the

70,000 sq ft taken at 100 Temple Street by BristolCity Council, 39,000 sq ft at Narrow Quay Houseby law firm Veale Wasbrough Vizards and

Barclays’ acquisition of 18,759 sq ft at BridgwaterHouse, Finzels Reach.

There are strong expectations of a raft of olderoffice buildings in and around Nelson Street, thePithay and Lewins Mead being taken out ofcirculation through conversion into residentialuse: applications for 20 projects totalling around750,000 sq ft have been submitted under“permitted development rights”.

This would mirror the stimulus given to thecity centre office market as we emerged from thelast recession, when student housing helped tosoak up a number of out of date offices.

The Out of Town market has seen lettings to awide mix of sectors, but has still come secondbest to city centre deals in the last 12 months, thebiggest being 30,000 sq ft to digital media giantNVIDIA at Aztec West on a ten year lease at£18.50 psf.

Developersspeculate to accumulate

OFFICES REPORT

RESIDENTIAL REPORT

Ross is BPAA student of the yearROSS WIGLEY FROM SOUTHAMPTON, a final year propertymanagement and investment student at UWE, has beenrecognised by the Bristol Property Agents Association (BPAA)with its annual student of the year prize.

Four students were shortlisted for the award and were invitedfor an interview with Andrew Main (President of the BPAA), JeremyRichards (Senior Vice President of the BPAA) and Sarah Ogden(Company Secretary), with Ross emerging victorious.

Awarded each year to a student who shows considerableachievement and promise, the BPAA annual prize includes acheque for £500 with a presentation at the BPAA annual dinner.BPAA president Andrew Main said: “We were all impressed by thecalibre of the candidates for this year’s prize, and their enthusiasmand ambition for the local property market was exemplary.

“Ross stood out for a number of reasons. His academic recordwas excellent, and he also showed a real commitment to theindustry through his work experience and dissertation.”

Residential view from the CityAccording to Zoe Willcox, Service Director of Planning and SustainableDevelopment for Bristol City Council: “The reality is that the city centre officemarket is heading eastwards, while the Nelson Street area is being left behind.We are very supportive of obsolete office blocks being converted to essentialuse - especially for students, as this will reduce demand for student accommo-dation in suburban areas.

“There are a number of areas – such as Clifton, Cabot and Cotham – whereshared student houses are squeezing out families. This tends to set in as atrend, and too many student houses will detrimentally change the mix of anarea.

“We recognise the role of buy to let, and expect larger investors to get increas-ingly involved in meeting demand for rented accommodation, but we are alsokeen to see the supply of affordable housing increase too in order to meet theneeds of the city’s growing population.”

THE APPOINTMENT OF Kris Donaldsonwas as clear a sign as it was possible tomake, that Bristol is taking its year asEuropean Green Capital in 2015 veryseriously indeed.

This, after all, is the man whose creditsinclude maximising the benefits toLiverpool in being European Capital ofCulture, as well as raising sponsorship forthe Sydney Olympics… a globetrotter withthe habit of turning up at the right city atjust the right time.

This is also a man who means business.And, critically, Bristol City Council areintent on turning a profit getting the besteconomic results from out of theirendeavours – through an independently runcompany which Kris will lead. As well ascoordinating the events associated with theyear, he will also be raising thesponsorship to make it happen andfocussing efforts on creating jobs, inwardinvestment and tourism.

Leading the way on the green agendaIt was Bristol’s third bid for the title.

What went so right this time? “I wasn’t partof the team that won the bid,” says Kris,“but if you look at what Bristol has beendoing – and is planning to roll out in thenext few years – we really are leading theway on the green agenda.

“The £400 million being spent on publictransport, another £150 - £200 million onpublicly owned buildings to improve theirenergy efficiency… this is a council that hastaken the bull by the horns. Importantly,community groups are also behind it, aswell as the many companies already here

that either make their living out of thesustainable sector or see benefits to thefuture of the city – and their business – as adirect result.

“And yes, we will gain internationalprofile and win inward investment as adirect result. At the end of 2015 we have theParis conference on climate change – anunbelievable opportunity for the city toshow what can be done.”

Where the rubber meets the roadBristol, he says, has a long history ofinnovation - and this is the year when it canestablish its credentials as a city ofinnovation in the sustainability sector.

“And it’s at the city level where adifference can really be made on climatechange,” he insists, “rather than throughnational governments. Communities canmake decisions that affect and directlybenefit themselves. This is where therubber meets the road.”

And the role of business in all this?“Companies, especially those involved inthe built environment, can play a big part inthis – and benefit as well. Energy efficiencyisn’t just about saving the planet. It’s aboutmaking buildings cheaper to run, morevaluable… achieving a better ROI.

“We are all in this together. And whatBristol can do – not just within the city, butwithin the city region – can help the UK too.

“I’ve been to many parts of the world,and when I mention Bristol they ask whereexactly that is.

“We’re the UK’s best-kept secret. That’sall about to change – just watch thisspace.”

PAGE six

Mayor sets outmission for 2017

PAGE seven

“HOW HAS THE last year gone?” GeorgeFerguson ponders momentarily. “Reallywell. I’ve enjoyed it – although it not beenall joy. It’s an incredibly fulfilling role.”

And the brickbats that regularly fly in hisdirection? “I’m not here to be loved. But I dowant to leave a legacy.”

That sense of Ferguson being a man on amission has only been heightened since hiselection: he has put in place a small, fourparty cabinet to cut the Gordian knot ofpolitical differences which have traditionallystymied decisive action in Bristol. He oftentalks about his mandate - free of any politicalbaggage - coming directly from the people ofBristol.

“There will always be challenges aroundbudgets. Some decisions will be forced uponme. And with the games that are played, you

do feel as if you are walking on eggshellssometimes…

“But most of what is happening haseveryone’s broad support.”

Including the business world? “I think I’mgetting on very well with the local businesssector – they’ve been really supportive. Theyhaven’t always agreed with everything I’vedone, but not everyone in business agreeswith each other. It’s a broad church.”

Residents Parking ZonesWhich brings us round neatly to Residents

Parking Zones…“Yes, some have had issues with my

transport plans – even seeing me as anti-car.I’m not anti-car. I’m pro a healthy, free-moving city. To achieve that, as well asresidents parking zones, we will need toimprove the public transport system – the£400 million being spent on the MetroBusand rail infrastructure is part of thatcommitment.

“We need to improve Park and Ride too.“Five US senators were here recently and

were amazed to see so many bikes on theroad during the rush hour - including goingup Park Street. We need to invest more incycling facilities: it means better air qualityand it frees up the roads for motorists.”

“The Government knows what we’re doingand is very supportive – they see the GreenCapital as an opportunity to promote the UK.Why wouldn’t they like Bristol? We’re the onlyone of the eight core cities with above averageGDP – we’re contributing to the nation’swealth.”

The city, of course, has been earmarkedfor significant growth in the coming years. Ishe in favour of that? “Yes I’m pro-growth. Itoffers great opportunities, but it also poseschallenges.

“We’re an affluent city, but we have issuesaround the availability of affordable housing.I’m determined to use our land to createmore.

This time last year, George Ferguson was still fresh into his new job as MayorSo what is his perspective today? And how will his plans impact upon Bristol’sbusiness and economic future?

Bristol goes green

While discussions between Bristol City Council and the BPAAhave – on the whole – moved into relatively amicable watersin recent years, on one subject a gap has appeared – onewhich is proving hard to bridge.

The Council estimates that around 18,000 commuters comeinto the city each day and park their cars – primarily in andaround the areas closest to the city centre.

Mayor George Ferguson has registered his concernsregarding the environmental impact this has upon Bristol… anda major part of his solution hinges on creating residents parkingzones covering a large swathe of the city.

During 2013, the plans were cut back somewhat followingfeedback from local residents and businesses – but nowherenear far enough for many opponents to the scheme.

The biggest concerns relate to the impact the new zones willhave on the thousands of lower paid support staff who currentlydepend upon their cars to get to work – many of them having todrive at unsocial hours. The Council is proposing to allow non-residents to purchase parking permits, but these will costhundreds of pounds a year.

As this edition of the BPAA newsletter went to press,discussions were still being held between the City and theBPAA. “Our biggest concern,” says BPAA spokesman AndrewHardwick, “is that these changes will be imposed before anymajor improvements have been brought into place on publictransport.

“We still don’t have park and ride schemes for many routesinto the city, and those that are up and running do not allowpeople to work either very early or very late. The timescale forupgrades to the public transport network to take effect isaround five years – and we would think it sensible to introduceany major changes over that sort of period.

“But we are also concerned that there have been noindependent assessments made on the economic impact onBristol. Surely that should be the first step.

“We live – and work – in what is a very compact city, andwhere the working and living areas overlap considerably. Thatdoesn’t seem to have been taken fully into consideration by thepeople driving these changes through.

“We will continue to argue our case.”

Residents parking zone dispute rumbles on

“Skills are another challenge for the city.So we’re setting up a skills commission…trying to connect education with business…and increase the number of apprentices.”

It’s not just about transport linksAnd the upcoming link road connecting

South Bristol? “I’m not the biggest fan ofthat. I’m more keen to promote publictransport and cycle links. But it will havebenefits. People talk about the ‘tale of twocities’, but it’s not as simple as that.Southmead, Lawrence Weston, Lockleaze –they have problems too. So it’s not just abouttransport links.

“It’s also about making good use of theland available in the south of Bristol foremployment – Filwood Green is a really goodexample of that, with 40,000 sq ft of newspace, and the Bottle Works where we will becreating a film studio. To me, it’s all aboutnarrowing the gap.”

The plans for regenerating parts of SouthBristol also include creating a whole newcommunity in Hengrove, with 1200 newhomes – in itself taking some of the pressureoff neighbouring local authorities to soak upthe demand – and George Ferguson is keento keep those neighbours on side.

“I’d say our relations were now good.Certainly better than a year ago. We have towork with them – South Gloucestershire, forinstance, has a lot of the employment landthat the city region needs to grow. We’re keento share the benefits of 2015 with them, andthe advantages of combining service delivery.

“We want to see a new junction on theM49, and so we’re working with SouthGloucestershire to make that happen as weboth have land interests on Severnside.Investing in a new junction and flooddefences will give a huge lift in land valuesand encourage development – and that canbe achieved through the City Deal andretaining business rates, just as we are doingwith Temple Quarter and the Arena.”

2017: a huge year for BristolSo what are the priorities for the coming

year for Bristol City Council? “Everything isnow gearing up for 2017,” he declares. It’swhen everything comes together: the Arena,rail electrification, the new entrance toTemple Meads, the Link Road, theMetroBus... it’s a huge year for Bristol.”

The question is: will he be there to bethere to share in the accolades? “Ah yes. Myterm ends in 2016. But I’ll be standing again.My time horizon is 2020. I’m bloody minded. Idon’t take no for an answer.”

Sport and social activities in 2012TENNISDriving rain on the day failed to spoil theenjoyment of the 14 pairs competing in thisyear’s tennis competition – mainly because itwas (sensibly) once again held indoors at theDavid Lloyd centre in Westbury.

The day raised £920 - including £500 fromour sponsors Cook and Co Solicitors – andwhile the day’s play was hotly contested, allhad to give way to winners Matt Moody andOliver Ladbroke.

GOLFAnother great day for golfing aficionados – withthe main sponsorship provided by Utopia. TheStableford winner was Will Mullins of HartnellTaylor Cook, while the main prize for the rafflewas won by James Morgan of Hartnell TaylorCook: a flight for two in the Jones Lang LaSallehot air balloon.

CYCLINGAs our picture of a rather forlorn looking PhilMorton shows, the third Cyclosportive tookplace in somewhat wetter weather thanprevious years, making the conditionssignificantly more challenging for the 30 mile,60 mile or 100 mile courses through the NorthSomerset and Mendip countryside.

Despite the elements, some 350 brave soulstook part in four-person teams – drawn fromright across the Bristol property industry andassociated sectors – making it the BPAA’slargest sporting event of the year, as well as agreat fundraiser.

BOULESIn complete climatic contrast, scorchingtemperatures and blazing sunshine formed thebackdrop to this year’s Boules competition inClifton.

40 teams entered the event, sponsored byBeach Baker, to compete for the opportunity towin the coveted BPAA Boules Cup or SilverPlate. The top team from each of the eightgroups went into the Cup competition with therunner up qualifying for the Plate competition.

In the Cup competition, solid performancesfrom AWW Architects, Jones Lang LaSalle, RBS& Integral culminated in a hard-fought finalbetween AWW and RBS. Despite AWW’sattempts to add their name to the Cup for asecond time in the space of three years, butRBS - pictured below - came through to scoopthe title and the trophy.

The final of the Plate competition wasbitterly fought between Foot Anstey andreigning holders BNP Paribas with both teamskeen to take home the “tea tray” (aka “SilverPlate”). Foot Anstey grasped victory andknocked the last agency firm out of thecompetition.

QUIZOnce again, 20 teams from across the Bristolproperty scene took part in the annual BPAA

quiz at Mud Dock. In acompetitive but funevening, the scoreswere close - with onlythree points coveringthe top four teams. Thisyear’s winners wereWorkman - by a solitarypoint.

Many thanks toCubex for their very kindsponsorship of the eventyet again, which helpedus raise over £800 forthis year’s two charities:Wherever the Need andClic Sargent.

BPAA Council

2013/14

PresidentAndrew Main

Senior Vice PresidentJeremy Richards

Junior Vice PresidentRoss Kiernan

Immediate PastPresidentDoug Wood

TreasurerChris Grazier

Company SecretarySarah Ogden

Membership SecretaryGuy Mansfield

Council Members:James PreeceMark LeeseIan Wills

Claire StrettonAndy Heath

Catherine CollisChloe BurstonJames PetherickMatt Regan

Membership

The BPAA membership is currently around 300.

Of these, approximately twothirds are Full Members andthe remainder are Affiliate,

Honorary or Student Members.

Applications for Membershipshould be made via our

membership portal on ourwebsite www.bpaa.net

Researched, written and designed by Tony Watts, www.hartleywatts.co.uk