Benson Elliot, a private equity real estate fund manager, has acquired an office scheme in the south-western English city of Bristol.

Benson Elliot, a private equity real estate fund manager, has acquired an office scheme in the south-western English city of Bristol.

The Templeback property was sold by investor-developer UK & European Investments on 27 October following 10 days of exclusivity. The financial details were not disclosed.

The six-storey property comprises 11,330 m2 of office space in the heart of Bristol's commercial area. UK & European Investments completed the development of the Grade A BREEAM Excellent office building in 2009.

Benson Elliot will undertake a 'modest refurbishment' of the building before re-launching it to the market. James Jakeman, principal at Benson Elliot, said: 'This opportunity bears all the hallmarks of the kind of investment Benson Elliot is striving to make in the UK - a high-quality asset that is located in a recognised business location with strong and improving transport links. We continue to believe in the investment case offered by key regional office markets across the UK.'

Farmer Capital advised the purchaser.

Benson Elliot was founded in 2005 and has €850 mln of equity under management. The UK-based firm has a pan-European investment platform and has transacted in the UK, France, Germany, Italy, Spain, Central Europe and Scandinavia. Within the UK Benson Elliot has worked to become well-established in regional investment and urban regeneration.

London-based UK & European is a privately owned property development and investment company with office, industrial, residential and mixed-use projects in London and throughout the Europe.