Altitude Investments, a boutique investment agency based in the Midlands & the South West, have announced the purchase of two more prime commercial investments located in Bristol & Cheltenham.
The assets, acquired on behalf of a private investor are based in extremely strong trading locations, in affluent areas of two of the top trading centres in the South West, Bristol & Cheltenham.
The Bristol property was acquired at auction and provides a long income freehold investment in a super prime trading location on Queens Road, Clifton. The building is Grade II listed, totals c.7,500 sq ft and is fully occupied by Lloyds Bank PLC. The tenant has been in occupation for c.50 years.
Queens Road is a prime trading pitch in Clifton, with the Russell Group University of Bristol bookending both ends of the pitch. Nearby occupiers include Waitrose, Sainsbury’s, White Stuff and a number of well-known and successful restaurant chains, serviced apartments and offices.
The Cheltenham property is a prominent car showroom on Tewkesbury Road, Cheltenham only 0.5 miles from the High Street. The property is let to Inchcape VW with a good term certain. The property was exchanged and completed within a few weeks from hitting the market.
The acquisitions total c.£6,000,000 and provide a healthy balance of good yield and long income.
George Turnbull of Altitude comments “We are very pleased to have secured these two prime assets. They offer a healthy balance of yield and income in two prominent and sustainable trading locations. Both sites have great leases & tenants but their locations would provide a number of opportunities for alternative uses longer term.”
“We have room for another acquisition of c.£3-4m within this mandate and Cheltenham shows our deliverability in very tight timescales. Please do get in touch if you are aware of any assets that would like a clean completion this side of Christmas.”
