Global real estate advisor, CBRE, has successfully advised on the purchase of Charlotte Place, a prime central office building in the centre of Bristol, for £5 million, representing a net initial yield of 6.47%.
CBRE advised purchasers, Lewis Investment Wealth Managers for their syndication model, with the seller, Longmead Capital, represented by Savills.
Charlotte Place is a 15,774 sq ft office building across ground and five upper floors. Currently let to Sift Ltd, Meridian Business Support Ltd, Cypad and Central Studio Salon Ltd, the building was refurbished in 2019 and has an average rent of £20.85 per sq ft.
Within close proximity to St Nicholas Market, Queens Square, the Floating Harbour and Castle Park, Charlotte Place is just a 10-minute walk from Bristol Temple Meads station and the Cabot Circus shopping centre.
“Charlotte Place is the latest sign of the continuing strength of Bristol’s office market, where demand for high quality space outstrips supply,” said Tom Morris, Managing Director, CBRE Bristol.
“Bristol’s office market was incredibly resilient during 2020 and we expect the city to become increasingly desirable as a place to live and work in the coming years,” said Andrew Phillips, Director, Savills Bristol.
