GE Capital Real Estate has set up a joint venture with Opus Land, initially to buy two flagship buildings for nearly £19m.
In Bristol, the jv has paid Hermes £13.5m for its 9,940m2 (107,000 sq ft) Greyfriars office, which brings £1.47m pa from tenants including AXA Sun Life, Unilever and the government. King Sturge acted for Hermes and is retained as letting agent.
At Walsall, the jv has bought Powerhouse’s 15,240m2 (164,000 sq ft) main UK distribution depot for £5.5m. Mansfield Elstob Main acted for vendor Brightside.
