Pioneering Bath Artificial Intelligence firm Cognisess has relocated to a refurbished grade II-listed office building in the city centre to meet its need for a more collaborative working environment.
The firm, which provides a market-leading software platform that helps businesses identify, nurture and retain talent, has pre-let 4,128 sq ft of prime office space in 10 Henry Street, pictured.
The building’s owner, Bristol-based property developer Urban Creation, spent £500,000 speculatively refurbishing it to provide state-of-the-art workspace in an historic setting.
According to joint agents Bath-based CSquared Real Estate and national firm Savills, the building offers one of the highest spec offices in Bath, with exposed services and with new VRF (variable refrigerant flow) air conditioning, mechanical fresh air ventilation, LED lighting and showers.
Details of the deal have not been disclosed but the rent has been described as ‘premium’. Top headline office rents in Bath are around £31 per sq ft.
Cognisess, which was previously based in Argyle St, agreed a new six-year lease on open plan office space across the building’s lower ground, ground and first floors.
Cognisess CEO Chris Butt said: “10 Henry St will be an incredible location and office for us as we return to a more collaborative and networked space to work from; made possible by the high standards and forward thinking designs from the team at Urban Creation.”
The deal is Urban Creation’s first in Bath. The firm specialises in transforming unusual and often historic buildings into high-end student accommodation and commercial space.
Managing director Jonathan Brecknell said: “We had confidence in the office market due to the Bath’s supply dynamic and backdrop of a strong local economy and SME base.
“The construction programme was not without its challenges given the nature of a Grade II-listed building within a World Heritage City, but we are pleased to have completed a best-in-class refurbishment coupled with a pre-letting at a premium headline rent.”
Harry Allen, an associate director in the office agency team at Savills Bristol said the speculative investment programme in the building had paid dividends, especially as construction started during the second lockdown last autumn.
“It shows the developing market trend of a ‘flight to quality’ as office tenants seek to provide the best working environment for their staff,” he added.
