Avison Young advises on Bristol office sale and leaseback

Avison Young, the world’s fastest-growing commercial real estate services firm, has advised The West of England Trust on the sale and leaseback of 21 St Thomas Street, Bristol.

The property was sold to a JV between F3GROUP and Arlo Holdings Ltd for £5.3 million, with an overage provision subject to planning.

The West of England Trust will take an 18 month lease on the 38,707 sq ft NIA (3,596 sq m) office property, with a mutual option to determine after 9 months, at an annual rent of £240,000.

Avison Young’s Mark Holliday said “Bristol remains a hugely popular regional centre with investors and developers, and this transaction represents our appetite for well located development opportunities with short term income.”