Latest News

New “Flexi Lease” Option For Occupiers at Almondsbury Business Park

22 November, 2011

An innovative “flexi lease” scheme is being pioneered by the owners of one of Bristol’s largest office parks.

Occupiers at Almondsbury Business Centre, at the M4/M5 interchange north of the city, are being given the opportunity to “lease now and buy later.”

io Asset Management introduced the initiative at the site – where occupiers already include AXA, Barratt Homes, Lloyds Bank, Sun Life, Hewlett Packard and Vistair - following its first UK acquisition.

It is on offer in units in three newly refurbished buildings at the business park – Linden House, Draycott House and Stanway House – through joint agents Jones Lang LaSalle and Hartnell Taylor Cook LLP.

“We believe Almondsbury Business Centre is an attractive proposition because businesses can get outright ownership of their premises at a fraction of the cost of renting,” says io Asset Management’s managing director, John Sims.

“Alternatively, taking a leaf out of the residential market, flexible leases are available with a fixed price option to purchase with 75 per cent mortgage finance available.

“By listening to the requirements of occupiers, we have introduced to the UK the variable styles of occupier tenure – ‘buy now, buy later or lease now’ - which have actually been available for several years across much of Europe.

“In addition we will be offering individual units – let to substantial companies for sale as attractive, affordable investments – within the price range of £300,000-£500,000, at net income yields of around 8 per cent pa and aimed at satisfying local investor demand via the local IFA network.”

Abbie Long, associate director in the office agency team at Jones Lang LaSalle, adds: “The flexi lease is an interesting and innovative solution in the market and Almondsbury Business Centre is the ideal location, offering as it does well refurbished, no nonsense premises with good parking and easy access, in a well managed setting. 

“Out of town occupier demand remains more robust than is the case in the city centre. The northern fringe of Bristol is an absolutely core business location and the market here is more resilient compared to the more peripheral locations around the city.”

Natalie Bennett, Associate Director at Hartnell Taylor Cook LLP says: “We are very optimistic this flexible scheme will appeal to a much wider audience and consequently attract occupiers especially in this difficult market. This unique opportunity will be suitable for tenants, owner occupiers and investors.”