Southey and Aylward House, a prominent retail and office property in central Bristol, has been sold by property consultants Alder King and Lambert Smith Hampton for £2.45m to a private investment fund.
The property, situated opposite Castle Park on the western fringe of Broadmead, comprises over 53,000 sq ft of income-producing retail, office and leisure space. The 0.42 acre site secured planning permission in 2010 for a 140,000 sq ft mixed use development. Due to dramatic changes in the property market, the scheme was put on hold.
John Benson of Alder King says: “We received a high level of interest in this opportunity and are delighted to have completed the sale to the buyer. The particular attraction of the property was its investment potential.”
Julian Cook of Burston Cook says: “We are delighted to have acted for the purchaser. The property occupies an excellent city centre location and provides a superb investment opportunity.”
Alder King and Lambert Smith Hampton and TLT solicitors acted on behalf of the fixed charge receivers and Burston Cook and Cheltenham-based solicitors Rickerbys LLP advised the buyer.
