Wiltshire commercial agents KAVANAGHS are delighted to confirm that they have successfully sold a prime office investment in Bristol.
Commercial Property Manager, Stephen Brickell, commented “I am delighted to confirm that we have successfully sold the freehold investment, Building 660, which occupies a prominent position on the Bristol Business Park, on behalf of private clients.
The property is let to Thales Alenia Space UK Limited on a full repairing and insuring lease expiring in October 2022 at a passing rent of £218,420 pax. A guarantee is provided by Thales UK Holdings, the parent company, which has a net worth of over £1billion.
We marketed the property at offers in excess of £2.56 million and were very pleased with the huge amount of interest in the property. Having spent two weeks conducting viewings with a range of potential purchasers from private individuals, investment companies and public bodies, and numerous offers of terms, I am pleased to confirm that the sale has been concluded at £3.12 million which represents a 7% yield. I would also like to thank Duncan Moir of Allsop, our joint agent, for assisting us so well.”
Duncan Moir commented “ As ever Mr Brickell has proven himself to be shrewd and effective operator in his market and our working together so successfully has shown the added value which can be achieved by successful and experienced, regional and national agents working together in harmony to deliver best value for the client.”
Stephen Brickell added “we are retained by several cash funded private clients to acquire income producing commercial investments from £250,000 up to £10million so if you are a commercial landlord with a commercial investment to sell we would be delighted to speak to you on a confidential basis about any potential acquisition or sale.”
For further information regarding this investment sale, or if you require confidential property advice please contact Stephen Brickell of Kavanaghs on 01225 341490.