Leading property consultancy Hartnell Taylor Cook has completed the disposal of Regent House, a prominent mixed-use building in the heart of Clifton Village, to a private investor for £2.15m. The sale was completed on behalf of a long-standing private client.
Regent House is a five-story, 8,535 sq ft office and retail building formerly occupied as a government office. The building was comprehensively refurbished by the vendor following its acquisition in 2001 and currently comprises ground floor retail space with modern open-plan offices across the four upper floors, as well as benefitting from a rare nine-space car park.
The purchaser of Regent House will introduce the award-winning, design-led brand Desg to the building, delivering a programme of high-quality enhancements in line with its proven design standards.
Established in 2020, Cardiff-based Desg operates a growing portfolio of flexible workspace locations, offering a mix of private offices, co-working memberships and fully serviced meeting facilities, designed to support collaboration, productivity and business growth.
The deal reflects continued investor appetite for well-located Bristol assets and the ongoing evolution of office space towards flexible working designed with the modern workforce at heart.
The building is fully let to four tenants and provides a WAULT of 4 years to expiry (1.3 years to break). It currently produces £202,726 per annum, reflecting a low average passing rent of £22.74 per sq ft on the office accommodation.
The purchaser was represented by Acuity Law and Andrew Gibson of Avison Young. The vendor was represented by Hartnell Taylor Cook and Michelmores.
James Frost, Associate Director (Investment) at Hartnell Taylor Cook said:
“It is rare that opportunities such as this become available in Clifton Village, and this transaction highlights the strength of demand for well-located office investments, offering rental growth and add value opportunity going forward. The purchaser’s plans to introduce a high-quality flexible workspace offering will add to Clifton Village’s appeal and support local business growth.”
