Developer Robert Hitchins Ltd has bought 1100 Parkway at Stoke Gifford, Bristol, the regional HQ of Swedish bank Handelsbanken.
The 7,225 sq ft Avon House, arranged over two floors, is let to Svenska Handelsbanken AB on a 10-year lease, ending in 2022.
Property and Development Director for Robert Hitchins Ltd, Simon Tothill, said: “The purchase of Avon House is part of our continuing strategy to expand and diversify our investment portfolio in Bristol and throughout the South West and South Wales.
“It’s a good quality building with a good tenant with more than six years of rental income until expiry of the lease.
“The location is very attractive with Bristol Parkway almost adjacent. It’s near Junction 1 of the M32 and Junction 19 of the M4. There is also the forthcoming Metro bus service and a new link road to the Northern Ring Road, as well as the electrification of the railway on the horizon.”
Colliers International acted on behalf of the vendors.
Robert Hitchins Ltd, based at Boddington, Gloucestershire, is one of the leading property developers in the South West and South Wales. It deals with the full process from site acquisition and planning through to development and investment.
Handelsbanken has 750 branches in 24 countries and 140 branches in the UK.