A private purchaser has acquired the freehold interest in a modern commercial block in Portishead, a popular attractive town situated to the south west of Bristol, for £875,000.
The attractive 3-storey building comprises ground floor retail with two floors of open plan offices above. The building is fully let and generates a rental income of £70,300 per annum.
The 4,887 sq ft building is prominently located on the Piazza off Harbour Road in Portishead, directly opposite Waitrose, Parish Wharf and the town’s leisure centre.
Ian Lambert of acquiring agents Hartnell Taylor Cook LLP said: “Portishead is a fast growing town sitting adjacent to junction 19 of the M5 motorway. It has seen a faster than average growth over the past 10-years following the redevelopment of the harbour to provide an attractive marina and as a result it has become a popular commercial and residential location with rents and values continuing to grow. In addition, Portishead will benefit from the new Portishead Railway Station, which forms part of the Metrowest Phase 1 and is located at the Quay Avenue/Phoenix Way roundabout and will provide half hourly services between Portishead and Temple Meads station.”
The freehold interest has been sold by a private property company.