Clearbell Property Partners II (Clearbell), a fund managed by Clearbell Capital, has sold an office asset in Bristol for £1.6 million.
The sales comprise the Beta Building, located to the north of Bristol, purchased by Broadshade Group for £1.6m.
The Beta Building comprises 12,534 sq ft of office space with current tenants including Atos,Xerox and Marie Stopes. Since acquisition, the asset has undergone significant external redecoration, as well as internal refurbishments to the second and ground floors.
Adam James, Senior Asset Manager at Clearbell Capital, says: “The sale in Bristol is proof that there is continued investor appetite from UK property companies for the smaller sub £5 million property market.
Investors are increasingly seeking Grade A office buildings in stable locations with future asset management opportunities.”
Clearbell was advised by Avison Young. Broadshade Group was advised by Hartnell Taylor Cook.
Contact: Ian Lambert – 0117 946 4525