Maybrook Properties has paid £8.5m for the freehold of the 8,360sq m (89,989sq ft) Clifton Centre, Whiteladies Road, Bristol.
The centre, completed in 1979, was refurbished by Zeneca Pension Trustees three years ago. The investment’s retail element is anchored by Sainsbury, Boots and W H Smith. The rest of the scheme consists of 1,594sq m (17,158sq ft) of offices.
The current rental income is £900,000 pa. The initial yield on the investment is 10.5%, but there are three vacant shop units totalling 594.7sq m (6,401 sq ft) to be let on new leases.
Maybrook was represented by Tuckerman Commercial. Jones Lang Wootton acted for the vendor.
EGi News 11/09/96
