Wilson Bowden Developments has put a 74,000 sq ft office block in
The developer is selling 4 Atlantic Quay for £29m – a 6.25% yield.
The building, which was completed last summer, is 65% vacant. Accountant BDO Stoy Hayward and Haden Building Management, part of Balfour Beattie, are the only two tenants, occupying 17,200 sq ft and 8,600 sq ft respectively.
WBD is offering a two-year rent guarantee on the vacant space.
A note sent to potential buyers said the building was available at a “significant discount against historic values”.
The move comes amid speculation that housebuilder Barratt – which owns WBD, and has been hit by a slump in the housing market – is lining up a £200m sale of the business to reduce its £1.7bn debt.
Lambert Smith Hampton is advising WBD.
