22 April 2021 – We are delighted to announce that our team has completed three office investment deals in Bristol in quick succession, with a collective sum of £23 million.
The first, Wyndham Court, is a long leasehold reversionary office located in the heart of Bristol. Acting on behalf of RO Group, the Hartnell Taylor Cook team advised on its sale to UKRO for a total consideration of £6 million. Although an early casualty of the pandemic, as the original deal fell out of bed due to Covid-19, its recent completion is testament to the strength and resilience of the Bristol market.
Just 100 metres away from Wyndham Court sits the destination of our second sale: New Bond House. Acting on behalf of Newcore Capital Management LLP, our team advised on the sale of this 21,955 sq. ft. office building, which occupies five floors and benefits from 23 parking spaces, for a total consideration of £4.05 million. Part let on short-term leases, it presents its purchaser, Rengen Developments, with an excellent refurbishment opportunity to capture higher rents or redevelopment for a range of other uses, subject to planning.
The final deal in recent weeks was an off-market acquisition for a special purchaser for £12.35 million, completing a busy few months for our investment team.
The office market has no doubt felt the effects of the pandemic. However, these deals demonstrate the enduring appeal of the office and attendant opportunities for investors, with Bristol’s office market continuing to generate interest from a multitude of buyers.
For any similar enquiries, please contact Ian Lambert, our Investment Partner in Bristol, on [email protected]