24 January 2017
The property comprises an attractive, modern, freehold office building let to Swedish bank Handelsbanken and Films at 59 and occupies a prominent location close to the BBC Bristol Headquarters on Whiteladies Road. The leases have on average 5 years remaining and the rent on average reflects only £17.35 per sq ft.
Harry de Ferry Foster, Fund Director of the Charities Property Fund, commented:
“Bristol has seen a marked reduction in office space due to a large number of conversions to residential through permitted development. Furthermore, the historic nature of Clifton means new development is restricted. The price per sq. ft. of this building at £267 is probably half that of equivalent residential values – and the building could be put to a multitude of alternative uses. On top of this the rent is currently very affordable compared to levels close to £30 per sq. ft. that have been achieved elsewhere in Clifton.”
GVA respresented Savills Investment Management and C&W represented Aviva.
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