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News Release

Bristol

Building at Vantage Office Park sold to private investor

Freehold investment deal brokered by Jones Lang LaSalle


 

Bristol, 17 April 2013 – A private overseas buyer has purchased an office investment at Vantage Office Park in North Bristol.  The freehold investment deal was brokered by Jones Lang LaSalle on behalf of local developers Deeley Freed.
 
The sale was concluded off-market showing the continued demand for well let investments on the park.  The building is let to Oasis Healthcare Ltd until September 2018.
 
The 8,246 sq ft property was sold for £1,450,000, reflecting a yield of 10.21% to a private client of Property Lynx.
 
Simon Bennett, Director ofCapital Markets commented, “We continue to see a lack of investment properties coming to the market.  The off-market nature of this sale shows the continuing appetite from private UK and overseas investors for commercial investments with solid income returns”.
 
Unit E forms part of the second phase of Vantage Office Park which has been popular with a range of tenants.  Jones Lang LaSalle also sold the first phase of Vantage Office Park to Summerfield Developments in 2011 and now acts as the letting agent for the site.  This sale follows the successful sale of Unit D Vantage to a private investor in June 2012 for circa £2 million.
 
On behalf of Deeley Freed, Jones Lang LaSalle, Hartnell Taylor Cook and Alder King are marketing the remaining three acres of the Park which has detailed consent for a range of buildings from 5,000 sq ft to 60,000 sq ft.
 

Vantage Office Park was built in 2005 and is on Old Gloucester Road near its junction with Winterbourne Road.  It is well located for easy access into central Bristol, the M32 motorway, the M5 and Bristol Parkway Station.