Property overview

Environment Agency, Caxton Business Park, Crown Way, Warmley, Bristol, BS30 8XJ

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Apr 2024

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.