묘사

The property comprises 61,471 sq ft (NIA) of Grade A office accommodation, with two retail units on the ground floor providing an additional 4,408 sq ft.

Internally, the building is constructed primarily of cast concrete and provides flexible, T-shaped floor plates arranged around a central core which is serviced by two passenger lifts and dual stair access.

Arranged over lower ground, ground and six upper floors, benefitting from 25 car parking spaces and end of journey facilities.

The office accommodation presents Grade A specification throughout the building. All floors have been refurbished within the last five years.

The property provides eight showers, 84 secure cycle spaces and changing facilitates with 117 lockers at lower ground level.

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6,129 제곱미터

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Grade B

WAULT

1.9 년

요청 가격

₩23,236,590,000

미디어

투자 하이라이트

The Prudential Buildings offers a rare repositioning opportunity in prime Bristol city centre

A reversionary multi-let office investment with a clear path to majority vacant possession by Q4 2027, offering significant value creation potential in one of the UK’s strongest regional markets.

Multi-let office with ground floor retail let to a total of five tenants.
Commanding a prime position on Wine Street in Bristol City Centre at the convergence of St Nicholas Market, Castle Park waterfront, and Bristol Shopping Quarter.
Comprising 61,564 sq ft of Grade A office accommodation arranged over lower ground, ground and six upper floors with two ground floor retail units providing an additional 4,408 sq ft, totalling 65,972 sq ft.
Total rental income of £1,551,686 per annum, reflecting £23.52 per sq ft overall.
Significant reversionary potential with the office passing rent representing a 55% discount to Bristol's prime rent of £52.00 per sq ft, the highest among major UK regional cities.
Office accommodation is majority let to Graphcore, a British semiconductor company and the ground floor retail is majority let to Tesco Stores Limited.
A short average unexpired lease term of 1.06 years to break and 1.93 years to expiry on the office accommodation offering an opportunity to unlock the asset in the short-term repositioning and alternative use.
Strategic upcoming vacant possession with contiguous floors one through to six available by Q4 2027, enabling comprehensive single-phase refurbishment or repositioning.
Situated within an unrivalled amenity cluster, surrounded by Corn Street's premier dining and leisure offerings, Finzel's Reach, and strong commercial occupiers.
Benefitting from 25 car parking spaces to the rear of the property, providing valuable amenity and additional space in a constrained city centre location.
The site totals 0.41 acres with opportunity for additional massing, subject to planning.
Held long leasehold for 150-year lease from December 2022, providing an unexpired term of 146 years, subject to an annual ground rent payable as the higher of the base rent of £42,000 or geared rent equivalent to 5% of total rents received.
EPC of B(42)

We are instructed to seek offers in excess of £11,450,000 (Eleven Million Four Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 12.70% (assuming purchaser's costs of 6.71%). This equates to a capital value of £174 per sq ft.