1000 Aztec West, Bristol

1000 Aztec West, Almondsbury, BS32 4SQ, UK

Description

THE SOUTH WEST’S FIRST NET ZERO CARBON OUT-OF-TOWN HQ OFFICE LET TO AN UNDOUBTED COVENANT

14.5 years of secure income to a 5A1 covenant majority owned by EDF energy.

FUTURE FOCUSED & SUSTAINABLY BUILT

1000 Aztec West has undergone a £17 million back-to-frame retrofit, converting a 1980s office building into a cutting-edge headquarters on a tranquil lakeside setting that achieves Net Zero operational carbon while dramatically reducing environmental impact. The works included an additional floor, outward extension of the existing building, full internal reconfiguration and complete façade transformation delivering a contemporary appeal.

The building now comprises 79,032 sq ft of state-of-the-art office accommodation, set across ground and two upper floors, designed for modern occupiers. The property benefits from an impressive full height reception, flexible open-plan floorplates and excellent natural light, together with exceptional amenity space, including a fitness studio, on-site café, two roof terraces with lakeside views and premium end of journey facilities.

The site includes 231 car parking spaces at ground level, including 40 EV charging points, equating to a ratio of 1:342 sq ft.

...

Attributes

Building area net

7,342 m²

WAULT

14.5 years

BREEAM

Excellent

EPC

Grade A

NIY

6.83%

Asking price

CN¥272,004,000

Media

Investment Highlights

• 1000 Aztec West is the South West’s first Net Zero Carbon out-of-town HQ office.

• The building has undergone a £17 million back-to-frame retrofit and comprises 79,032 sq ft of state-of-the-art office accommodation, set across ground and two upper floors.

• Market leading sustainability credentials including Net Zero Carbon in operation via CRREM, BREEAM Excellent and EPC A certification.

• Located within Bristol’s largest and most prestigious business park, spanning 152 acres including landscaped grounds featuring three scenic lakes.

• Aztec West’s strategic location provides unrivalled connectivity with direct access to M5 junction 16 and within 1 mile of the M4/M5 interchange.

• The property benefits from exceptional amenity space, including a fitness studio, on-site café, two roof terraces with lakeside views and premium end of journey facilities.

• The property is let in its entirety to NNB Generation Company (HPC) Limited with an unexpired term of 14.5 years.

• Total passing rent of £2,077,920 per annum, reflecting £26.74 psf, achieving a record-breaking prime rent for the out-of-town market.

• NNB Generation Company (HPC) Limited are majority owned by EDF Energy and offer a robust covenant, with a 5A1 D&B rating.

• The tenant is responsible for one of Europe’s largest infrastructure projects; the government backed £33 billion Hinkley Point C nuclear power station located nearby in North Somerset which will deliver the UK’s first new nuclear power station in 20+ years, supporting the UK’s energy security and Net Zero objectives.

• Hinkley Point C underpins the UK’s energy transition strategy which will provide 60+ years of operational nuclear plant life.

• On-site car parking at ground level for 231 vehicles, including 40 EV charging points, reflecting an excellent ratio of 1:342 sq ft.

• The property is held Freehold spanning a 2.54 acre site.

PROPOSAL

Offers are sought in excess of £28,500,000 (Twenty Eight Million, Five Hundred Thousand Pounds), subject to contract and exclusive of VAT. This reflects a Net Initial Yield of 6.83% assuming purchaser's costs of 6.80%, and a low capital value of £361 psf.