West Midlands developer sells Bristol site to Axa for £20 million
Trebor Developments has exchanged contracts for the sale, via a £20.6 million forward funding, to AXA IM Alts acting on behalf of clients of a pre-let, high tech, manufacturing facility at Central Approach, Bristol.
The 107,660 sq ft facility is fully pre-let to Oxford Instruments on a 20 year lease and is due for completion in March 2022. The property will serve as a new manufacturing and office HQ for Oxford Instruments.
The asset will be developed to strong sustainability credentials including a BREEAM Very Good rating.
Separately, Trebor is also developing a speculative 113,000 sq ft industrial unit on the site next door, which will be ready for occupation in December 2021.
Bob Tattrie, Managing Partner for Trebor, said: “It has been a pleasure to conclude terms with AXA IM Alts for this forward sale with interim payments and we look forward to working with them to deliver the building. The building will be outstanding and provide Oxford Instruments with a prestigious new HQ and bespoke manufacturing facility.”
Trebor Developments dealt with the transaction internally.