UK property investment manager Orchard Street Investment Management has bought a prime multi-let industrial estate in central Bristol for £30m (€35m).
Orchard Street said it has acquired City Business Park from LaSalle Investment Management on behalf of St James’s Place Property Unit Trust.
The freehold estate comprises 19 units totalling approximately 118,000sqft across a six-acre site.
Harry Buxton, acquisitions manager at Orchard Street, said: “This strategically located, multi-let asset represents an excellent addition to our client’s portfolio, providing a low-density industrial estate in central Bristol which lends itself to last-mile delivery.
“Its multi-let nature provides us with numerous opportunities to improve its sustainability credentials whilst importantly allowing us to capture the highly reversionary rents in the near term to generate value on behalf of our investors.”
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