On behalf of Aprirose Real Estate Investment, Knight Frank has been appointed to sell the freehold of prime office building Park Gate, 2000 Aztec West, Bristol for offers in excess of £21million, reflecting a net initial yield of 6.0%.
The headquarter building is located at the entrance of Bristol’s premier business park, with easy access to the close motorway network. It was constructed in the 1900s, and underwent a full refurbishment in 2013, compromising 67,993 sq ft arranged over ground and two upper floors. There are 322 car spaces, providing a high car park ratio of 1:211 sq ft.
The property is entirely let to EE Limited, the leading UK digital communications company, on a lease for 15 years expiring in 2027, for a passing rent of £1,314,425 per annum.
Shaun Roy, Capital Markets, Knight Frank, commented; “This is a newly refurbished HQ building, located at Bristol’s premier business park and we envisage the length and strength of income to draw interest from around the globe.”
Aztec West Business Park is located approximately eight miles north of Bristol city centre and is adjacent to junction 16 of the M5 motorway, and a mile from the M4/M5 interchange. Bristol Parkway railway station is approximately 2.5 miles to the south of the business park, and there is a regular bus service within ten minutes.