12th June 2019
Keybridge acquires Bristol Oxfam store building
Bristol-based property investors Keybridge Associates have expanded their South West portfolio with the acquisition of the ground floor retail and basement premises at 62 Cotham Hill and 26a Aberdeen Road in the Cotham area of Bristol.
The property, held on a 999 year long lease dated 5th April 2016, was sold by Alder King on behalf of Andrew Sheridan and Gareth Morris of FRP Advisory LLP, in their capacity as Administrators, for £271,000, representing a NIY of 6%.
The premises, which form part of a parade of retail units, are let to Oxfam on a 15 year lease at a rent of £16,750 per annum.
Nigel Hooton of Hootons Commercial who acted on behalf of the purchaser, said: “Keybridge purchased this property due to its good location and the strong covenant strength of the tenant. This property now forms part of a portfolio located in the South West.”
Rebecca Harries of Alder King said: “Demand for good quality investment properties remains strong and resulted in competitive interest in this well-located retail property. To secure the best outcome for the vendor, we brought the sale to a close by inviting best bids resulting in the successful disposal to Keybridge.”