The Tramshed building in Walcot Street, Bath has been sold for £6.65 million by the Capital Markets team of Knight Frank acting on behalf of DTZ Investors.
The converted transport building, which housed a 4,790 sq ft pub/restaurant and 18,553 sq ft of serviced offices, has been purchased by furniture store Neptune on a long leasehold with pricing reflecting a 6% yield for the leisure area and £250 per sq ft for the offices.
Steve Oades, head of Knight Frank’s Capital Markets team in Bristol, said: “We received strong interest in this building and the eventual sale value was well above the quoting price. We understand Neptune will open a furniture store in the former restaurant area and plan to convert the offices for residential use.”
