Prime Bristol industrial estate sold for £7 million
Orpen Park, a prime multi-let industrial estate in north Bristol has been sold for £7 million.
The 79,858 sq ft estate in Almondsbury has been acquired by Longmead Capital LLP. Cushman & Wakefield agreed the deal on behalf of Aviva Investors. Finn & Company represented Longmead Capital.
The estate sits on a 4.56 acre site and comprises seven units ranging in size from 7,774 sq ft to 18,132 sq ft. Tenants include Rico Logistics, Jungheinrich and Furniture Village which contribute to a total passing rent of £486,558 per annum. The estate is part of an established and well located industrial area in easy reach of the M5 and M4 motorways.
Nick Allan, Investment Partner at Cushman & Wakefield commented: “This transaction underlines the strength of the investment market for prime multi-let industrial in Bristol and the South West.
“The lack of buying opportunities combined with the weight of money, strong rental growth, good tenant demand and limited development has driven strong investor interest and pricing.”