Real estate fund manager PRUPIM has acquired the Temple Circus building in Bristol for £26ml, a 7.4% yield.
The 90,000 sq ft grade A office building in the Temple Quarter of Bristol was acquired from Aviva Investors’ and Hermes’ Serviced Office UK fund, which bought it for £26m in 2010.
Temple Circus is multilet to tenants including Oval Insurance Broking and the Institute of Physics.
Chris Perkins, director of fund management at PRUPIM, said: “The purchase of the Temple Circus Building in Bristol represents a step forward for our strategy to increase exposure to regional offices. We are actively looking for further quality regional assets that meet our funds’ objectives, and look forward to future acquisitions of this kind.”
PRUPIM was advised by Cushman & Wakefield. DTZ advised the vendor.
jack.sidders@estatesgazette.com
