Freehold office investment sold in Clifton, Bristol

Ashfield Land sells Grosvenor House to private investor for £2.7m

Article posted: 06 Apr 2011

Development and investment company Ashfield Land has sold multi-let offices in Clifton, to a private investor for just under £2.7m reflecting a net initial yield of 8%.

Grosvenor House at 149 Whiteladies Road, Clifton is located in a prime position within Bristol’s most affluent suburb. Tenants include HSBC, Southampton University Hospital NHS Trust and Rider Levett Bucknall. 

Ashfield Land acquired the building in 2005 and since then has actively managed the property, including the recent renewal of the ground floor lease to HSBC who have occupied the building since it was constructed in 1975.

James Digby, Director at Ashfield Land said: "We are very pleased to have achieved our asking price on this building, particularly in a difficult investment market.  The sale clearly demonstrates Ashfield Land’s ability to drive asset value through active management initiatives."

Ashfield Land was represented by Hartnell Taylor Cook LLP. The purchaser was represented by Thompsons Commercial Property Consultants based in Swindon.

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Posted by Ingrid