M49 motorway industrial site in Bristol is pleased to see more investment

The freehold on two blocks of office buildings used as a business centre in Bristol has been sold in a £2.3 million deal, to the delight of Central Park, the M49 motorway industrial site to let.

Property consultants Alder King sold the freehold of the site in Orchard Street to a private investor. The grade two listed premises front onto Orchard Street and are made up of seven period buildings occupied as a business centre, providing in total circa 23,000 sq ft. Gemma-Jane Ogden of Alder King’s investment team says; “We received strong interest from investors in both these properties. The investment offers an attractive return and long term there is potential for alternative use owing to the location in the city centre.”

The properties are let to The Orchard Business Centre Ltd on six 15 year leases from December 2012. The tenant provides serviced office facilities to businesses ranging from self-employed individuals to larger companies and within the buildings they offer 88 offices of various sizes. The sale reflected a net initial yield of 8.7 per cent. Alder King acted on behalf of the joint LPA Receivers and Burston Cook advised the purchaser.

Source: Bristol Post