Lower Castle St | Bristol BS1 3AG
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Lower Castle St
Bristol BS1 3AG
Castlemead · Office Property For Sale
Investment Highlights
- Bristol’s tallest office building providing accommodation over 18 floors
- Net rent of £3,377,799 per annum (after deducting the head rent and service charge shortfall of £64,363)
- Outstanding views over the city centre and beyond
Executive Summary
The property is held long leasehold from Bristol City Council for a term of 123 years expiring on 26/06/2103 with an option to extend to 26/06/2168 (145 years unexpired). The head rent payable is £123,860 and is subject to an upwards only rent review every 10 years to 8% of net rents receivable (ERV). The next rent review is 25/12/2021.
Part of the adjoining car park at ground and terrace level is held leasehold from Gold Diamond D Bristol City Centre 2005 Ltd for a term of 125 years less 10 days from 27/06/1978 at a peppercorn rent (80 years unexpired). This comprises 84 car parking spaces.
Part of the adjoining car park at ground and terrace level is held leasehold from Gold Diamond D Bristol City Centre 2005 Ltd for a term of 125 years less 10 days from 27/06/1978 at a peppercorn rent (80 years unexpired). This comprises 84 car parking spaces.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Long Leasehold
Building Size
132,168 SF
Building Class
B
Year Built/Renovated
1975/2016
Price
£27,500,000
Price Per SF
£208
Net Initial Yield
11.48%
NOI
£3,157,000
Percent Leased
94%
Tenancy
Multiple
Number of Floors
20
Typical Floor Size
6,608 SF
Slab to Slab
10 ft
Building FAR
1.01
Lot Size
3.00 AC
Amenities
- 24 Hour Access
- Bus Route
- Controlled Access
- Conferencing Facility
- Property Manager on Site
- Raised Floor
- Security System
- Accent Lighting
- EPC - D
- Storage Space
- Bicycle Storage
- DDA Compliant
- Demised WC facilities
- Lift Access
- Shower Facilities
- Suspended Ceilings
- Air Conditioning
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