A key industrial site within Bristol’s Temple Quarter Enterprise Zone has been sold by commercial property specialists Colliers International.
The Deborah Services site in Silverthorne Lane, St Philips, which totals just under 10,000 sq ft of offices and warehouse buildings on 1.77 acres has been acquired by a local entrepreneur for £610,000. The property is let with an unexpired term of five years and the sale reflected an initial yield of 10.7%.
Commenting on the sale, Investment Director Richard Coombs said: “The marketing generated a significant amount of interest from local buyers and we are delighted to have completed the sale at asking terms.”
The tenant, Deborah Services Ltd, is a national company specialising in contract scaffolding, scaffolding hire, scaffolding sales, asbestos removal, safety netting and temporary roofing systems.
The St Philips area is one of Bristol’s most well established industrial, trade counter and car dealership locations in the centre of the city. Occupiers include Brandon Tool Hire, BOC, Plumb Centre, Speedy Hire, Mitsubishi and Kia Motors, U-Drive and Clarks Wood Company.
Colliers International development specialist Nick More said: “There is plenty of scope for future development at the Silverthorne Lane site given the fact there is presently very low site coverage.
”In addition the site falls within the Temple Quarter Enterprise Zone and could benefit from future plans to regenerate the area for a creative and technology hub.”
Colliers International represented the vendor; the purchaser was represented by DTZ.
