Epic UK has acquired the freehold of 1 Linear Park, Temple Quay, Bristol, for £17.34m, reflecting a net initial yield of 6.15%.
The 52,000 sq ft office has been bought out of receivership from PwC and is fully let, with a WAULT of 4.6 years, to Simmons & Simmons, DNV and Kaplan Financial.
Richard Howell, investment director at Bilfinger GVA in Bristol, said: “There is a significant amount of further development planned for Temple Meads, within the enterprise zone and the arena site, and this will all assist in ensuring Temple Quay remains the focus for prime office development in the city going forward.”
Bilfinger GVA acted on behalf of Epic UK; Alder King and Savills acted on behalf of the vendor.
