ACRE Capital have advised The Duchy of Cornwall on the off-market acquisition of 2610 The Quadrant, Aztec West, Bristol for a price of £20,000,000, reflecting a net initial yield of 4.75%. The asset was acquired from Westmoreland Developments Limited (c/o Citygrove), advised by CBRE.
The asset is let to St James Place for a further 16.2-years at a rent of £24.77 per sq ft. The rent is reviewed 5-yearly to the higher of OMR or annually compounded RPI (0%-4%).
Location: Bristol
Property Type: Office
Transaction Type: Acquisition
Client: The Duchy of Cornwall
