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Spectrum Bond St
113,374 SF 79% Leased Office Building Bristol BS1 3LG £12,000,000 (£106/SF) 19.36% Net Initial Yield
Investment Highlights
- Landmark city centre office providing high quality accommodation over lower ground, ground and 4 upper floors
- The office has excellent connectivity, with immediate access to the inner city ring-road, positioned along a main city wide cycle route
- Positioned on a large 1.75 acre site the property has exceptional redevelopment potential for residential and student uses
- Highly prominently position on Bond Street, directly opposite Bristol’s main shopping destination with an abundance of amenities
- Excellent parking and ample cycle provision
Executive Summary
Offers are invited in excess of £12,000,000 (Twelve Million Pounds) subject to contract and exclusive of VAT.
A purchase at this level reflects a Net Initial Yield of 19.36% and a Triple Net Yield of 17.06%, based on topped up income and assuming purchaser’s costs of 6.71%. This reflects a low capital value of £105 per sq ft.
The property is held as two long leasehold titles(AV135816 & BL137143). AV135816 is held from 25 December 1986 for a term of 125 years (87 years unexpired).
The ground rent is linked to 7.50% of the occupational rents received. The rent for the year ending 24th December 2023 was £155,366, which has reduced to a budgeted figure of £148,497 based of forecast rents for the year ending 24th December 2024 (rent to be reconciled at the end of each financial year).
BL137143 is held from 31 October 2014 for a term of 97 years expiring (87 years unexpired) at a peppercorn rent.
Property Facts
Amenities
- 24 Hour Access
- Bus Route
- Raised Floor
- Security System
- Accent Lighting
- EPC - E
- Atrium
- Bicycle Storage
- Common Parts WC Facilities
- DDA Compliant
- Reception
- Secure Storage
- Shower Facilities
- Suspended Ceilings
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
This office suite is available to let on terms to be agreed, it is available individually or combined with suite E.
This office suite is available to let on terms to be agreed, it is available individually or combined with suite E.
This office suite is available to let on terms to be agreed.
This office suite is available to let on terms to be agreed.
This office suite is available to let on terms to be agreed. Can be combined with the ground floor suites D and E.
This office suite is available to let on terms to be agreed. Can be combined with the ground floor suites D and E.
| Space | Size | Space Use | Condition | Available |
| Ground-Ste D | 3,900 SF | Office | Partial Build-Out | Now |
| Ground-Ste E | 4,940 SF | Office | Partial Build-Out | Now |
| 3rd Fl-Ste B | 4,112 SF | Office | Partial Build-Out | Now |
| 3rd Fl-Ste C | 3,411 SF | Office | Partial Build-Out | Now |
| 3rd Fl-Ste D-E | 6,549 SF | Office | Partial Build-Out | Now |
| 4th Fl-Ste E | 1,298 SF | Office | Partial Build-Out | Now |
Ground-Ste D
| Size |
| 3,900 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
Ground-Ste E
| Size |
| 4,940 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
3rd Fl-Ste B
| Size |
| 4,112 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
3rd Fl-Ste C
| Size |
| 3,411 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
3rd Fl-Ste D-E
| Size |
| 6,549 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
4th Fl-Ste E
| Size |
| 1,298 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
Ground-Ste D
| Size | 3,900 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
This office suite is available to let on terms to be agreed, it is available individually or combined with suite E.
Ground-Ste E
| Size | 4,940 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
This office suite is available to let on terms to be agreed, it is available individually or combined with suite E.
3rd Fl-Ste B
| Size | 4,112 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
This office suite is available to let on terms to be agreed.
3rd Fl-Ste C
| Size | 3,411 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
This office suite is available to let on terms to be agreed.
3rd Fl-Ste D-E
| Size | 6,549 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
This office suite is available to let on terms to be agreed. Can be combined with the ground floor suites D and E.
4th Fl-Ste E
| Size | 1,298 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
This office suite is available to let on terms to be agreed. Can be combined with the ground floor suites D and E.
-
Nick Allan -
Andy Dickens -
Patrick Humphreys -
George Poole
-
Cushman & Wakefield
Presented by
Spectrum | Bond St
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