The 440 Bristol Business Park office building has been sold for £6,826,000 in a deal brokered by Knight Frank.
The firm acted on behalf of Mayfair Capital Investment Management in the freehold sale of the detached 21,074 sq ft two storey office building, which is situated in the heart of Bristol Business Park in North Bristol. The office is let for another 10 years to Motability Operations Limited and was bought by private clients of JLL.
Steve Oades, Partner at Knight Frank in Bristol, said: “Yields of sub 6.00% have only been achieved a couple of times in Bristol’s out of town office market and this deal highlights the current demand for well-let, prime investments.
“The sale reflects a capital value of £324 per sq ft and a net initial yield of 5.75%.”
Bristol Business Park has excellent connections to the city centre and to national motorway, train and bus networks, and has also attracted other blue chip organisations such as Boeing, Thales, UWE, and QinetiQ.
