We are pleased to report the sale of Grosvenor House a multi-let office building on Whiteladies Road in Clifton, to a private purchaser.
The building is located in a prime position within Bristol’s most affluent suburb. The tenants include HSBC, Southampton University Hospital NHS Trust and Rider Levett Bucknall. The building has been sold for just under £2.7 million reflecting a net initial yield of 8%.
Ashfield Land acquired the building in 2005 and since then has actively managed the property, including the recent renewal of the ground floor lease to HSBC who have occupied the building since it was constructed in 1975.
James Digby, Director at Ashfield Land said:
“We are very pleased to have achieved our asking price on this building, particularly in a difficult investment market. The sale clearly demonstrates Ashfield Land’s ability to drive asset value through active management initiatives”.