The freehold of an iconic retail property in Clifton, Bristol has changed hands. Property adviser GVA, acting on behalf of Associated Property Investors, has purchased the prime freehold of 43 – 45 Queens Road in Clifton, for £1.632 million which represents a net initial yield of 6.36%.
The upper floors of the property are let on a 25 year lease as residential accommodation, while the ground floor is let to STA Travel.
Richard Howell, investment director at GVA in Bristol, said: “This purchase represents an excellent opportunity for my client to add value through active management and drive rental values in the medium term.”
King Sturge represented the vendors, Westend Investment.
