10 Victoria Street, Bristol_Property for Sale

10 Victoria Street, Bristol, BS1 6BN, UK

10 Victoria Street, Bristol

Asset Description

10 Victoria Street offers a Grade A, green investment opportunity with strong occupier narrative and occupies a central pitch in the core of Bristol. It provides 47,732 sq ft of highly specified workspace across ground and four upper floors.

The Grade II listed property was comprehensively refurbished in 2022 at a cost of £5.5 million with zero capex required in the short-medium term. The refurbishment included a new entrance and reception area, VRF heat pump system and state-of-the-art cycle facilities.

Championing Bristol’s climate conscious attitude, the office has been designed with a focus on sustainability. 10 Victoria Street is future-proofed with strong ESG credentials including a high EPC of B, EV charging facilities and excellent on-site amenity. It has globally recognised certifications, including ActiveScore Platinum, WiredScore Platinum and Fitwel.

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Attributes

Building area net

4,434 m²

Year built

1999

Year renovated

2022

Occupancy

100%

WAULT to breaks

3.2 years

WAULT to expiries

6.7 years

EPC

Grade B

Land area gross

0.15 ha

Tenure

Freehold

Media

Investment Highlights

Located in the prime office location in Bristol, a short walk from Temple Meads railway station.
Bristol is a leading UK office centre and one of the strongest markets outside of Central London.
10 Victoria Street provides highly specified workspace following a recent £5.5m refurbishment.
Flexible accommodation totalling 47,732 sq ft including a terrace offering attractive views of the city.
Leading ESG credentials including Fitwel 2 Star Rating, WiredScore Platinum, ActiveScore Platinum and EPC B (32).
Fully let to 7 tenants including Schroders, Allianz, LSH and Michelmores, producing a total income of £1,780,779 per annum which reflects a low average passing rent of £37.90 per sq ft.
Prime office rents in Bristol are currently £48.00 per sq ft and based on the current rental tone, 10 Victoria Street has 14% day one reversionary potential.
Bristol has 2.5% per annum forecast rental growth for the next 4 years.