Award winning South West commercial property firm Burston Cook has successfully completed a number of notable deals.
Among the transactions was the freehold sale of a Clifton office/production studio to private investors for £1,175,000.
Another freehold sale involved Cumberland House which was sold for £2,600,000. The property comprises an industrial compound on a 2.2 acre site in Ashton Gate.
Burston Cook also handled the letting of two properties on St Nicholas Street. Acting on behalf of North Square Properties Ltd, they let the ground floor restaurant premises of 39-41 St Nicholas Street to Bagel Boys on a 5 year lease. The rental is £13,950 pa.
A retail/office property totalling 1,273 sq ft at 43 St Nicholas Street was let to Playhouse Coffee Ltd at a rental of £10,000 pa on a 15 year lease. The lease covers the ground and two upper floors and is subject to 5 year rent reviews.
Finally, Burston Cook agreed terms for the acquisition of Springfield House on behalf of Meade King Solicitors. The Welsh Back property, totalling 8,147 sq ft, features basement car parking for six vehicles.
Burston Cook reports that there has been a marked improvement in the level of freehold enquiries in the area as occupiers, once again, consider buying their own offices. However, they also report a distinct lack of supply.
A contributing factor to this dwindling supply may be explained by the fact that 0.5 million sq ft of redundant office stock has been removed from Bristol’s supply for residential conversions since permitted development regulations were relaxed in 2013.
The industrial and warehouse market remains steady, with freehold demand also exceeding supply in this category, but the retail market remains “testing” despite healthy demand in certain areas of the city.
Burston Cook has been named the most active agent in Bristol 2014 and the most active deal maker in Bristol 2014.
They were also the South West’s second most active office agent in 2013 and concluded more office deals in Bristol than any other commercial agent during in 2012-2013.
In addition Burston Cook won the Insider Property Award for the South West agency team of the year in 2013.
Story: Neil Bird
Photo: Ben Sutherland (cc)
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