EQ, Bristol
111 Victoria Street, Bristol, Bristol, BS1 6AX, UK
HK$1,143,184,000 | 194,426 sf
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
47,732 sf
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
0.37 acres
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.
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10 Victoria Street, Bristol (0 Properties)
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Last updated
14 Nov 2024
