Bristol office bought by fund

Office design news from Morgan Lovell

Published on 10-01-2011

Property fund Highcross has paid £4.525 million for Woodlands Court office scheme in Bristol.

The development is spread over 3.48 acres and consists of four single-storey office and industrial buildings. It is presently let to multiple tenants on long-term leases and can be found at Junction 16 of the M5.

Highcross regional director Andrew Osborne said: "With the majority of the office park's original leases coming to an end over the next three years, we believe there is great potential to re-gear some of the existing leases and attract new occupiers through hands-on asset management."

Meanwhile, Number 1 St Paul's Place in Sheffield city centre was recently purchased for 23.9 million from its former owner Standard Life Investments by investment group Canada Life.

The property offers 88,000 sq ft of grade A office interior space and is presently let to law firm DLA Piper, as well as financial groups Barclays and Royal Bank of Scotland.

Posted by Adrian Norman