19 August 2018

Picton purchases grade A office in Bristol

10 August 17 - RE+D Magazine
Picton purchases grade A office in Bristol



Consultant - GREECE

Solum Property Solutions

Consultant - GREECE

IBI Group

Consultant - GREECE


Public entity - GREECE


Antulio Richetta

Director IBI Group
Picton Property Income Ltd on Wednesday said it has bought a grade A office building in Bristol city centre for GBP23.2 million.


Known as Tower Wharf, the building is situated on the waterfront, adjacent to Temple Way and equidistant to both the Temple Meads railway station and Cabot Circus shopping district.

The building provides 70,664 square feet of office accommodation arranged over ground and five upper floors, with car parking in the basement.

The property has an average unexpired lease term of 5.2 years and provides diversified rental income of GBP890,000, reflecting an average passing rent of GBP19.65 per square foot from four occupiers.

The remaining 25,392 square feet of vacant accommodation is already fully refurbished. (Source: LondonSouthEast)


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