Automotive and Roadside specialists from Colliers International have sold the freehold of the high profile Honda and Toyota dealerships on Bristol’s Bath Road on behalf of Aviva Investors to CBRE Global Investors for £6m.
Oliver Jordan in the retail investment team, working with roadside specialist Anthony Keohane has sold the neighbouring dealerships – which offer 26,829 sq ft of combined floor area on a 3.11 acre complex.
Anthony Keohane from Colliers International’s Automotive and Roadside team said: “This site benefits from a prominent position on Bristol’s busy A4 Bath Road and offers room for expansion if required.
“The top retailing centre already boasts big hitter occupants including Jaguar, Fiat, Hyundai, Lidl, McDonalds, TK Maxx, Halfords and Matalan.”
Anthony Keohane said: “The vehicle dealership investment market is very strong at the moment with investors seeing the opportunity to acquire modern, high profile buildings with strong covenants often on long leases with fixed income growth.”
Oliver Jordan added: “This site provided a mix of a longer lease with a further fixed rental uplift on review for the Toyota dealership and a shorter term on the Honda facility which offered some active management opportunities.”
