City Business Park Bristol industrial estate sells for £30 million

Published by

Nicky Godding

City Business Park Bristol, a prime multi-let industrial estate, has been acquired by Orchard Street Investment Management for £30 million, on behalf of St James’s Place Property Unit Trust.

The asset was sold by LaSalle Investment Management.

The estate comprises 19 units totalling approximately 118,000 square feet across a six-acre site. All the units are let or under offer at a low passing rent of £7.80/ft2 overall, offering strong rental growth prospects when compared to rental values in the area in excess of £12/ft2.

City Business Park is an established business park located just off the A420 close to the junction with the A4320 St Philips Causeway and Central Bristol. The park is within 1 mile of Bristol City Centre via the A420 and inner ring road and has easy access to the M32 motorway via the A4320.

Harry Buxton, Acquisitions Manager at Orchard Street, said: “This strategically located, multi-let asset represents an excellent addition to our client’s portfolio, providing a low density industrial estate in central Bristol which lends itself to last mile delivery.

“Its multi-let nature provides us with numerous opportunities to improve its sustainability credentials whilst importantly allowing us to capture the highly reversionary rents in the near term to generate value on behalf of our investors.”

Orchard Street was advised on the acquisition by Stonehill Partners. LaSalle Investment Management was advised by TT&G Partners.

Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe. After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts. She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.