Avison Young advises on sale of Bristol office with development potential of more than 38,000 sq ft

Avison Young has advised The West of England Trust on the sale and leaseback of 21 St Thomas Street, Bristol.  The property was sold to a JV between F3GROUP and Arlo Holdings Ltd for £5.3 million, with an overage provision subject to planning.

The West of England Trust will take an 18 month lease on the 38,707 sq ft NIA (3,596 sq m) office property, with a mutual option to determine after 9 months, at an annual rent of £240,000.

Avison Young’s Mark Holliday said “Bristol remains a hugely popular regional centre with investors and developers, and this transaction represents our appetite for well located development opportunities with short term income.”