Robert Tchenguiz and Guy Dellal, son of “Black Jack” Dellal, have bought NatWests Bristol head office for their £500m fund.
The pair have bought the 117,973 sq ft (10,960 sq m) National Westminster Court in Broad Street, from a private client of Matthews & Goodman.
The joint venture has paid over £17m for the building, which is let to NatWest bank for a further 31 years at a rent of £1m pa. The deal reflects a net initial yield of 5.5%.
Franc Warwick acted for Tchenguiz and Dellal.
See Saturday’s Estates Gazette for the full version of this story.
EGi News 26/04/02
