Three buildings at Bristol’s Aztec West business park have been sold for a total of £10.35m.
Property agents DTZ advised Scottish Widows Investment Partnership (SWIP) on the sale of Buildings 200, 1100 and 1200 to London-based property investment group Hansteen UK.
The portfolio of assets includes two modern multi-let industrial parks totalling 95,000 sq ft and 45,000 sq ft of multi-let office space. The properties are let on 25-year leases to tenants including Vodafone, Co-operative, Integral and MITIE, with an annual rent roll of around £1.3m.
Nick Allan, DTZ senior investment director in Bristol, said: “We are delighted to have acted on behalf of one of the UK’s leading institutions, Scottish Widows Investment Partnership on this complex portfolio sale. The assets have performed very well over the years largely due the location, the high quality nature of the assets and its management by SWIP and we anticipate they will continue to do so.”
Hansteen UK was represented by Knight Frank.
