Buckley Gray Yeoman (BGY) has officially been appointed to lead the major retrofit and transformation of the former Lloyds Banking Group regional headquarters, Canons House, in Bristol. This high-profile project, located on Bristol’s historic harbourside, will see the 310,000 square foot Grade II listed office building repositioned as the city’s largest multi-tenant commercial space.
The retrofit will involve an investment of approximately £40 million, or around €47 million, making it one of the most ambitious and expensive commercial renovations in the South West of England.
Historic Significance and Architectural Legacy
Canons House was originally completed in the late 1980s and was designed by renowned architectural firm Arup Associates, with construction led by Bovis Construction. The building, which occupies a prime location overlooking Bristol’s Floating Harbour, was listed as a Grade II heritage asset in April 2023, in recognition of its architectural importance and its role in the post-industrial regeneration of the docks area.
Client Vision and Acquisition
The property was acquired in December 2024 by a joint venture between Kinrise and Mactaggart Family & Partners (MFP). Their goal is to transform Canons House into a top-tier office destination that meets modern standards while respecting its historical character.
According to the developers, the retrofit is not only about architectural preservation but also about enhancing functionality, sustainability, and community integration.
Design and Development Approach by BGY
Buckley Gray Yeoman’s approach will balance architectural conservation with contemporary workspace design. The retrofit includes:
- New Public Routes: Creating pedestrian-friendly connections through the building to improve accessibility and integration with the cityscape.
- Ground-Floor Activation: Introducing retail and hospitality offerings to animate the street level and foster greater engagement with the public.
- Improved Amphitheatre Link: Strengthening the connection between the building and the adjacent amphitheatre to encourage public use and event integration.
- Sustainable Upgrades: Incorporating energy-efficient systems and sustainable materials to meet contemporary environmental targets.
BGY aims to transform Canons House into a future-ready, ESG-compliant workplace that can support a mix of tenants in a collaborative and vibrant environment.
Project Management and Consultancy Team
The retrofit of Canons House is being coordinated by an experienced project team that includes:
- Turner & Townsend – appointed as project manager and employer’s agent. Their role includes overseeing delivery and ensuring the €47 million retrofit aligns with timelines and sustainability goals.
- Arup – returning to the project as a key consultant, Arup brings full-circle knowledge of the building’s original structure and design.
- Pegasus Group – contributing planning and heritage consultancy to secure approvals and ensure alignment with Bristol’s local development strategies.
Timeline and Market Impact
The project is currently in the design and planning phase, with construction expected to begin in late 2025. Once completed, Canons House will provide over 310,000 square feet of Grade A office space, making it the largest retrofit of its kind in Bristol.
The retrofitted Canons House is expected to command premium lease rates, with projected prices in the range of €560 to €700 per square metre annually, depending on floorplate, fit-out, and tenant requirements. These figures are competitive for the central Bristol commercial real estate market, especially for sustainably upgraded and heritage-listed buildings.
Conclusion
The retrofit of Canons House is a landmark moment for Bristol’s commercial architecture. BGY’s leadership in design, combined with a strategic development vision from Kinrise and MFP, marks a turning point in how heritage office buildings can be reimagined for a new generation of businesses.
The €47 million investment highlights growing confidence in the Bristol market, where the demand for modern, flexible, and environmentally responsible workspaces continues to rise. Once completed, the new Canons House is expected to be a flagship for urban regeneration in the UK.
