Construction & Commercial Property News

Bristol office building sold for £27.5million

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Written by: Hannah Baker | Posted 20 July 2018 10:07

Bristol office building sold for £27.5million

An office building in Bristol has been sold for £27.5 million to one of the world's largest real asset investment management firms.

The property was sold by UK Commercial Property Real Estate Investment Trust, which is managed by Aberdeen Standard Investments, to CBRE Global Investors.

Based at Temple Quay near Temple Meads station, the five-story 1 Rivergate building has been leased to energy supply company Ovo for eight years.

Read more: New co-working space for start-ups to open in Bristol city centre

Richard Coombs, director in the National Capital Markets team in the Bristol office of Colliers International, said: “1 Rivergate represents a prime city office investment in the heart of Bristol’s business district, and we were pleased to act for UKCP REIT at Aberdeen Standard Investments in this deal.

“The price achieved reflects the continuing demand from investors for strong regional office investments.”

Colliers International represented UKCP REIT at Aberdeen Standard Investments. Hartnell Taylor Cook acted for CBRE Global Investors.

 

 

 

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