CBRE GI acquires Bristol office asset for €30m

CBRE Global Investors has acquired 2 College Square in Bristol, UK from M&G Real Estate for £22.77 mln (€30 mln).

The property is located within the mixed-use Harbourside development in Bristol city centre and comprises an office built in late 2011 totaling 52,728 sq ft (4,923 m2).

The property is held freehold and is fully let to four tenants.

'The purchase of 2 College Square provides our client with a modern, prime multi-let office located within a major regional city centre with income growth potential going forward,' said Tim Munn, senior director at CBRE Global Investors. 'This acquisition forms part of our strategy to focus upon high quality investments with sustainable occupational demand to deliver performance through the market cycle.'

James Emans, associate director in the investment team at Savills, which represented the buyer, added: 'This prime asset is well-placed to deliver a strong long term income against the backdrop of extremely constrained supply in Bristol’s office market.'

M&G Real Estate was represented by Cushman and Wakefield.