The West of England Trust completed a sale and leaseback of their headquarters building at 21 St Thomas Street, Bristol.
Hartnell Taylor Cook LLP acted on behalf of joint venture partners F3GROUP and Arlo Holdings Ltd on the purchase of the building at a price of £5.3 million, with an overage provision subject to planning.
21 St Thomas Street, a purpose built office block offering mainly open plan accommodation totalling 38,707 sq ft, including 38 car parking spaces, occupies a prominent corner position at the junction of St Thomas Street and Mitchell Lane in the heart of the Redcliff area of Bristol. Immediately opposite the building is the new Redcliff Quarter development, where construction work has started to provide 400 new homes, a new Radisson Red Hotel and a high quality food court capitalising on the City’s reputation for food culture.
The West of England Trust will take a short term lease on the existing office property.
Chris Grazier of acquiring agents, Hartnell Taylor Cook LLP said: “This was a unique opportunity to acquire a significant piece of real estate that could be redeveloped for a range of uses in one of the most active development areas in Bristol. The future prospects for 21 St Thomas Street and the surrounding area is very exciting.
Avison Young advised the West of England Trust and Hartnell Taylor Cook LLP advised joint venture partners F3GROUP and Arlo Holdings Limited on the acquisition.
