UK property investment manager Investment Management has bought a prime multi-let industrial estate in central Bristol for 拢30m (鈧�35m).
Orchard Street said it has acquired City Business Park from on behalf of St James鈥檚 Place Property Unit Trust.
The freehold estate comprises 19 units totalling approximately 118,000sqft across a six-acre site.
Harry Buxton, acquisitions manager at Orchard Street, said: 鈥淭his strategically located, multi-let asset represents an excellent addition to our client鈥檚 portfolio, providing a low-density industrial estate in central Bristol which lends itself to last-mile delivery.
鈥淚ts multi-let nature provides us with numerous opportunities to improve its sustainability credentials whilst importantly allowing us to capture the highly reversionary rents in the near term to generate value on behalf of our investors.鈥�
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