Commercial property adviser Bilfinger GVA has secured the freehold interest in a modern industrial unit in St Phillips, Bristol, on behalf of its client, CBRE Global Investors.
The freehold of the 68,720 sq ft unit, located at St Phillips Central on Albert Road, was sold by Avignon Capital for £6.9 million reflecting a net initial yield of 6%.
The property is let to AAH Pharmaceuticals Ltd with an unexpired lease term of just over four years.
Richard Howell, Investment Director at Bilfinger GVA in Bristol says, “The lack of industrial development in Bristol over the last eight years has resulted in what is now a severe shortage of good industrial accommodation, especially close to the city centre in St Phillips.”
Bilfinger GVA acted on behalf of CBRE Global Investors. Avignon Capital were unrepresented.
