Environment Agency, Caxton Business Park, Crown Way, Warmley, Bristol, BS30 8XJ
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Atlas Real Estate has recently advised Windhill Investments on the acquisition of an off market industrial investment in Bristol.
The property is located on Caxton Business Park and comprises a modern industrial unit extending to 9,708 sq.ft on a site of 0.83 acres.
The property is let to the Environment Agency for a term of 10 years commencing on 25 March 2022. The lease is held on FRI terms. The current rent is £90,000 per annum which equates to a low rent of £9.27 per sq.ft.
The tenant has been in occupation since 2005 and is currently investing circa £700,000 upgrading the building.
The lease is subject to a tenant break option and upward only rent review to open market value on 25 March 2027.
The purchase price of £1,300,000 reflected a net initial yield of 6.50%.
The vendor was represented by Mark Atkins Associates.
