Bristol’s Great Western Court has been sold to a private investor.
Hillview Real Estate, the UK regional office investor, sold two offices buildings, including the Bristol-based building to private investors in sperate transactions for £13.5m. The other property in the sale was Medway court, located in Stevenage’s main commercial area of Gunnels Wood Road.
Great Western Court, located next to Bristol Parkway Station, comprises four separate buildings, totalling 37,287 sq ft, let to occupiers primarily in the technology and energy sectors. While Meadway Court provides 14-self-contained buildings, totalling 41,722 sq ft, let to 21 different tenants.
The sales come after Hillview completed a series of value-add asset management initiatives. Both properties were sustainably enhanced through refurbishments and let at significantly higher rents than at the time of purchase to bring occupancy levels to 100% at Great Western Court and 92% at Meadway Court.
Nadav Livni, founder and fund manager of Hillview Real Estate, said: “These two sales follow the successful completion of our business plan for the assets and provide us with equity for reinvestment into more active opportunities. I am proud of our team’s ability to deliver value across all market cycles.”
Hillview was advised by ADS Real Estate Advisors at Stevenage and jointly advised by ADS Real Estate Advisors and Hartnell Taylor Cook at Great Western Court. The purchasers were advised by CBRE at Stevenage and Lambert Smith Hampton at Bristol.