Developer Robert Hitchins has continued to expand its portfolio in Bristol by acquiring the regional HQ of Swedish bank Handelsbanken – its third deal in the city in less than six months.
The 7,225 sq ft Avon House at 1100 Parkway at Stoke Gifford is arranged over two floors and let to the bank on a 10-year lease ending in 2022.
Cheltenham-based Robert Hitchins acquired the four-storey, 15,300 sq ft former TSB offices in Prince Street in March and in June bought the 10,050 sq ft Building 220 at Bristol Business Park, which is let to engineering group Babcock International Technology on a 10-year lease.
Robert Hitchins property and development director Simon Tothill said: “The purchase of Avon House is part of our continuing strategy to expand and diversify our investment portfolio in Bristol and throughout the South West and South Wales.
“It’s a good quality building with a good tenant with more than six years of rental income until expiry of the lease.”
He described the location as very attractive with Bristol Parkway almost adjacent and its proximity to Junction 1 of the M32 and Junction 19 of the M4.
“There is also the forthcoming Metro bus service and a new link road to the Northern Ring Road, as well as the electrification of the railway on the horizon,” he said.
Colliers International acted on behalf of the vendors.
Robert Hitchins, formed in 1958 and one of the leading property developers in the South West, Midlands and South Wales, has developed, or owned, more than 3,000,000 sq ft of commercial property across the South West, Midlands and South Wales.
Pictured below: Avon House, Stoke Gifford
