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£83m Paid for Bristol Office Scheme

£83m Paid for Bristol Office Scheme

One of Bristol’s premier office space developments has been purchased for £83m, with Aerium, a European property fund, having agreed the fee for the landmark office scheme with administrators PwC.

Having only been completed in 2010, the One Glass Wharf development was created by Castlemore Securities and has been 80% occupied by law firm Burges Salmon since late 2010.

Speaking to Property Week about adding One Glass Wharf to their international office space portfolio, Chief Executive of Aerium Franck Ruimy stated:

ΓÇ£We are very pleased to have announced the acquisition of this prestigious property in partnership with our capital investors from the Middle East. This is a significant purchase outside of the central London market of a very high quality, trophy asset.ΓÇ¥

ΓÇ£All core UK business markets are beginning to show a reduction in the supply of prime stock coming onto the market, which will further support the underlying demand for space in this type of asset and therefore steady rents going forward.ΓÇ¥

Offering over 215,000 sq. ft. of grade A office space, the six storey building overlooks the waters of Temple Quay and is located in the business quarter of Bristol.

The Serviced Office Perspective

Bristol City Centre accounted for 20% of all new businesses entering serviced office space across the South West in 2010*, reflecting its position as an important and vibrant business location within the wider region.

With this in mind, officebroker.com will launch a new set of research reports focusing on the serviced office activity in key city centre locations, including Bristol, at the end of Q1 2011. The aim of these reports will be to provide access to the unrivalled levels of insight available via the data collected by the UKΓÇÖs largest independent broker to the serviced office space industry. (click HERE to learn more)

*Source: www.officebroker.com

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Author: | March 10, 2011 | 0 Comments

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