The incredible £74m plan that will transform 'iconic estate' in major UK city

An incredible grade II-listed waterfront estate in Bristol city centre is about to receive a complete transformation after a property finance firm has provided £74 million in funding to give the iconic building a boost. Puma Property Finance has provided funding to Mactaggart Familt & Partners (MF&P) and Kinrise, which have formed a joint venture.

The funds will be used to redevelop Canons Wharf, with the site once being the headquarters of Lloyds Banking Group. The loan marks Puma's largest to date and its first transaction in Bristol. Bosses say that it is part of the company's commitement to deliever the best in underserved markets.

According to Insider Media, the plans include 165,000 square feet of office space will be constructed across two buildings that will offer Harbourside views. There will also be an 18,000-square-foot space for restaurants and bars overlooking the Amphitheatre, and a waterside public space for events throughout the year.

Amenities such as a gym, saunas, auditorium, rooftop pavilion, gardens and terraces are also on the cards for the redevelopment.

William Laxton, CEO, Mactaggart Family & Partners, said: "Canons Wharf will be a market-defining scheme that rewards us for our conviction during a challenging time for the UK office sector.

"We are grateful for the trust the Puma team have placed in our JV with Kinrise and really proud to be delivering this project into one of the most exciting occupier markets in the country."

George Aberdeen, the managing partner at Kinrise, said that it has "been a longstanding ambition for Kinrise and MF&P to work together", with the redevelopment plan being the "perfect project" for the companies to showcase the best of their skills.

Rahul Malde, director, Puma Property Finance, said: "We are proud to support MF&P and Kinrise on the redevelopment of Canons Wharf, a landmark project that will set new standards for sustainable office development in Bristol.

"This iconic scheme overlooking the Bristol Harbourside and Amphitheatre exemplifies our commitment to working with experienced sponsors and delivering best-in-class product in underserved markets.

"We look forward to seeing the transformation of this vacant estate into a vibrant mixed-use campus, creating spaces to work, taste and gather."

Construction work is expected to start in summer 2026 and be completed by late 2027.